Warner Chilcott and Watson Resolve Antitrust Class Action Litigation with Direct and Indirect Purchasers of Loestrin 24 Fe an...

Date : 01/06/2020 @ 12:00PM
Source : PR Newswire (US)
Stock : Allergan plc (AGN)
Quote : 189.52  -3.67 (-1.90%) @ 12:27AM
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Warner Chilcott and Watson Resolve Antitrust Class Action Litigation with Direct and Indirect Purchasers of Loestrin 24 Fe an...

Allergan (NYSE:AGN)
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DUBLIN, Jan. 6, 2020 /PRNewswire/ -- Allergan plc (NYSE: AGN), today announced that its Warner Chilcott and Watson subsidiaries have reached resolutions with all plaintiffs, including a class of direct purchasers, individual direct purchasers that previously opted out of the direct purchaser class, and a class of indirect purchasers of Loestrin 24 Fe and Minastrin 24 Fe, concluding the previously disclosed antitrust litigation in the U.S. District Court for the District of Rhode Island.  The settlements make no admission of wrongdoing on the part of the company and resolve the litigation that was scheduled to go to trial on January 6, 2020.

Allergan plc logo

Warner Chilcott and Watson will pay approximately $300 million under the settlement agreements. The settlements are subject to court approval of the agreements with the direct and indirect purchaser classes. 

The company will take a pre-tax GAAP charge of approximately $300 million to its fourth quarter 2019 earnings.

About Allergan plc
Allergan plc (NYSE: AGN), headquartered in Dublin, Ireland, is a global pharmaceutical leader focused on developing, manufacturing and commercializing branded pharmaceutical, device, biologic, surgical and regenerative medicine products for patients around the world. Allergan markets a portfolio of leading brands and best-in-class products primarily focused on four key therapeutic areas including medical aesthetics, eye care, central nervous system and gastroenterology. As part of its approach to delivering innovation for better patient care, Allergan has built one of the broadest pharmaceutical and device research and development pipelines in the industry.

With colleagues and commercial operations located in approximately 100 countries, Allergan is committed to working with physicians, healthcare providers and patients to deliver innovative and meaningful treatments that help people around the world live longer, healthier lives every day.

For more information, visit Allergan's website at www.Allergan.com.

About Warner Chilcott and Watson

Warner Chilcott and Watson subsidiaries include Warner Chilcott Public Limited Company, Warner Chilcott Company, Inc., Warner Chilcott Company, LLC, Warner Chilcott (US), LLC, Warner Chilcott Laboratories Ireland, Limited, Warner Chilcott Holdings Company III, Ltd., Warner Chilcott Corporation, and Warner Chilcott Sales (US), LLC, (collectively, "Warner Chilcott") and Watson Pharmaceuticals, Inc. and Watson Laboratories, Inc. (collectively "Watson").

In 2013, Watson changed its corporate name to Actavis. The same year, Warner Chilcott became a wholly owned subsidiary of Actavis plc which thereafter changed its corporate name to Allergan.

Contacts

Allergan:   
Investors:  
Manisha Narasimhan, PhD  
(862) 261-7162

Media:  
Lisa Brown  
(862) 261-7320

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/warner-chilcott-and-watson-resolve-antitrust-class-action-litigation-with-direct-and-indirect-purchasers-of-loestrin-24-fe-and-minastrin-24-fe-300981457.html

SOURCE Allergan plc

Copyright 2020 PR Newswire

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