Mayne Pharma to Pay $650,000 to Settle US Generic Drug Claims

MT Newswires Live

Sep 28

Mayne Pharma Group (ASX:MYX) has agreed to pay $650,000 to resolve civil claims brought by attorneys general from 49 US states and territories as part of a broader investigation into the generic pharmaceutical industry, according to a Monday Australian bourse filing.

The settlement, which does not involve any admission of liability or wrongdoing, aims to avoid further legal expenses, management distraction, and uncertainty, per the filing.

The company said the settlement requires only limited administrative measures, including maintaining its existing antitrust compliance policy and issuing annual compliance notices for two years, without imposing any restrictions on its business operations.

The settlement remains subject to final court approval, the filing added.

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