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).
"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."
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.
SOURCE Allergan plc