Allergan Units Settle Loestrin, Minastrin 24 Fe Lawsuits
January 06 2020 - 7:39AM
Dow Jones News
By Chris Wack
Allergan PLC (AGN) said Monday 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.
The company said the settlement concludes the previously
disclosed antitrust litigation in the U.S. District Court for the
District of Rhode Island.
Allergan said the settlements make no admission of wrongdoing on
the part of the company and resolve the litigation that was
scheduled to go to trial Monday.
The company said Warner Chilcott and Watson will pay about $300
million under the settlement agreements, which are subject to court
approval of the agreements with the direct and indirect purchaser
classes.
Allergan said it will take a pre-tax charge of $300 million to
its fourth quarter earnings.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
January 06, 2020 07:24 ET (12:24 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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