A PYMNTS Company

US: Allergan units resolve antitrust litigation on Loestrin

By  |  January 6, 2020
US: Allergan units resolve antitrust litigation on Loestrin

Ireland-incorporated Allergan announced on Monday, January 6, 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 hormonal birth control pills Loestrin 24 Fe and Minastrin 24 Fe, concluding the previously disclosed antitrust litigation in the US District Court for the District of Rhode Island. 

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    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, stated Allergan, currently the subject of a US$63 billion acquisition by AbbVie.

    Warner Chilcott and Watson will pay approximately US$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 generally accepted accounting principles (GAAP) charge of approximately US$300 million to its fourth quarter 2019 earnings.

    Full Content: Nasdaq

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.