DUBLIN, Nov. 25, 2015 /PRNewswire/ -- Allergan plc
(NYSE:AGN) today announced that it has reached an agreement with
the New York State Attorney
General's Office to end the litigation under Section 2 of the
Sherman Act, and other statutes with the Attorney General over the
decision of Forest Laboratories, Inc., announced in February 2014, to cease marketing and selling the
now generic version of memantine immediate release tablets.
Under the terms of settlement, Allergan admits no liability, has
released its counterclaims against New
York, and has agreed to make a payment of approximately
$172,000 to the State of New York to help defray a portion of
the state's litigation expenses. In addition, Allergan
withdraws its petition for a writ of certiorari, filed in the
Supreme Court of the United
States, challenging the decision of the U.S. Court of
Appeals for the Second Circuit in New York v. Actavis plc, No.
14-4624 (May 22, 2015).
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"The settlement announced today ends this litigation, and ends
the appellate proceedings at the U.S. Supreme Court. The
Company believes that the novel and unprecedented legal holding in
the Court's decision is limited to the facts and findings in this
particular case," said Robert
Bailey, Executive Vice President and Chief Legal Officer at
Allergan. "We remain committed to clarifying the law in this area
along the lines set forth in the Company's petition for certiorari
with the Supreme Court of the United
States, which was filed on November
4, 2015, and we expect that there will be opportunities to
do so in the future."
About Allergan
Allergan plc (NYSE: AGN), headquartered in Dublin, Ireland, is a unique, global
pharmaceutical company and a leader in a new industry model –
Growth Pharma. Allergan is focused on developing,
manufacturing and commercializing innovative branded
pharmaceuticals, high-quality generic and over-the-counter
medicines and biologic products for patients around the world.
Allergan markets a portfolio of best-in-class products that
provide valuable treatments for the central nervous system, eye
care, medical aesthetics, gastroenterology, women's health,
urology, cardiovascular and anti-infective therapeutic categories,
and operates the world's third-largest global generics business,
providing patients around the globe with increased access to
affordable, high-quality medicines. Allergan is an industry leader
in research and development, with one of the broadest development
pipelines in the pharmaceutical industry and a leading position in
the submission of generic product applications globally.
With commercial operations in approximately 100 countries,
Allergan is committed to working with physicians, healthcare
providers and patients to deliver innovative and meaningful
treatments that help people around the world live longer, healthier
lives.
For more information, visit Allergan's website at
www.allergan.com.
Allergan Forward-Looking Statements
Statements
contained in this press release that refer to future events or
other non-historical facts are forward-looking statements that
reflect Allergan's current perspective of existing trends and
information as of the date of this release. Except as expressly
required by law, Allergan disclaims any intent or obligation to
update these forward-looking statements. Actual results may differ
materially from Allergan's current expectations depending upon a
number of factors affecting Allergan's business. These factors
include, among others, the risks associated with acquisition
transactions; the difficulty of predicting the timing or outcome of
FDA approvals or actions, if any; the impact of competitive
products and pricing; market acceptance of and continued demand for
Allergan's products; difficulties or delays in manufacturing; and
other risks and uncertainties detailed in Allergan's periodic
public filings with the Securities and Exchange Commission,
including but not limited to Allergan's Quarterly Report on Form
10-Q for the quarter ended September 30,
2015 (such periodic public filings having been filed under
the "Allergan plc" or "Actavis plc" names) and from time to time in
Allergan's other investor communications . Except as expressly
required by law, Allergan disclaims any intent or obligation to
update these forward-looking statements.
CONTACTS: Allergan:
Investors:
Lisa
DeFrancesco
(862) 261-7152
Media:
Mark Marmur
(862) 261-7558
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SOURCE Allergan plc