Pfizer has agreed to a settlement deal fror antitrust claims regarding its cholesterol drug Lipitor, according to a filing in the U.S. court in Trenton, Neew Jersey.
The drugmaker will pay $93M as part of the agreement, bringing to end a lawsuit that claimed it worked with Ranbaxy Laboratories in India to delay sales of generic versions of Lipitor. The case was brought on by wholesale drug distributors, who will continue to pursue their case against Ranbaxy.
The settlement agreement is yet to get green-lit by court but will end more than 10 years of litigation. Pfizer has called the allegations "factually and legally without merit" and its settlement proposal "fair, reasonable and the best way to resolve this litigation." It does not admit liability under the deal.
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