Alergan: Warner Chilcott And Watson Resolve Antitrust Class Action Litigation

(RTTNews) - Allergan plc (AGN) announced Monday 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 Loestrin 24 Fe and Minastrin 24 Fe.

This concluded the previously disclosed antitrust litigation in the U.S. 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.

Warner Chilcott and Watson will pay approximately $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 GAAP charge of approximately $300 million to its fourth quarter 2019 earnings.