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73,730.16
-609.28
-0.82 %
Corporate Announcement
Security Code
524804
Company
Aurobindo Pharma Ltd
Exchange Received Time
14/05/2019 09:16:09
Exchange Disseminated Time
14/05/2019 09:16:17
Time Taken
00:00:08
Clarification On News Item Appeared In Https://Economictimes.Indiatimes.Com Dated 13-May-2019, Titled "Pharma Stocks Bleed As US States File Lawsuit Against Generic Drug Firms'.
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5/14/2019 9:16:11 AM
This has reference to your above cited emails seeking clarification on the subject matter.
In this regard, we would like to inform you that in December 2016, the Attorney General of the State of Connecticut along with the Attorneys' General of various other U.S. states filed a lawsuit in Federal Court alleging that Aurobindo and other companies in the U.S. generic drug industry had violated antitrust laws by fixing prices and allocating customers (the 'First State AG Action'). On 18 June 2018, an Amended Complaint was filed in the First State AG Action. Aurobindo has denied all the relevant accusations in the First State AG Action and is vigorously defending against the matter.
On 10 May 2019, the Attorney General of the State of Connecticut and additional Attorneys' General of various U.S. states filed a second lawsuit in Federal Court similarly alleging that the Aurobindo and other companies in the U.S. generic drug industry had violated antitrust laws by fixing prices and allocating customers (the 'Second State AG Action'). The Second State AG Action includes additional parties and additional products which were not referenced in the First State AG Action. While Aurobindo is currently reviewing the Second State AG Action, we expect that we will be filing papers with the Federal Court in due course denying each of the relevant accusations.
Aurobindo does not, at this time, anticipate that these matters will have a material impact on the Company's operations or business results.
Please take the information on record.
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