Glenmark to pay $25 million as part of settlement with US authorities

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Glenmark to pay $25 million as part of settlement with US authorities - Business Standard

Quick Summary:

Glenmark Pharmaceuticals Inc, USA, a wholly-owned subsidiary of the Mumbai-based drug maker, has agreed to pay the amount in six installments over five years, with interest on the settlement amount at a rate of 4.25 per cent per annum from May 28, 2024, the company said in a late night regulatory filing on Wednesday.

Glenmark Pharmaceuticals has agreed to pay USD 25 million as part of a settlement with the US Department of Justice regarding a case related to the pricing of a generic drug.

The Civil Division of the US Department of Justice has concluded its False Claims Act and Anti-Kickback Statute investigation in a settlement with Glenmark Pharmaceuticals Inc, USA, it said.