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.
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.
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