Glenmark Pharmaceuticals's US arm agrees to $29.628 million price fixing settlement
Business
Glenmark Pharmaceuticals's US arm just agreed to pay $29.628 million to settle lawsuits claiming they fixed prices in the generic drug market.
The deal, announced May 23, 2026, wraps up years of legal battles and will be paid off gradually over five years.
Glenmark denies wrongdoing, says funds reserved
Since 2016, Glenmark faced more than 35 complaints from buyers and state governments accusing them of anticompetitive practices.
The company firmly denies any wrongdoing and says the settlement isn't an admission of guilt.
They've already set aside the money, so it won't shake up their finances.