Zydus Pharmaceuticals among several generic cos facing lawsuit by US states

Zydus Pharmaceuticals Inc, the US arm of drug firm Cadila Healthcare, is among several generic companies facing a lawsuit by US states.

According to some media reports, more than 40 US states have filed a lawsuit against Teva Pharmaceuticals and 19 other generic companies for price fixing and inflating prices of drugs. In a regulatory filing, Cadila said in its opinion this particular matter is not likely to have any material impact on the operations and financials of the company.

"Zydus conducts its business with the highest degree of integrity and honesty," it added. Shares of Cadila Healthcare were trading at Rs 265.10 per scrip on BSE, down 1.41 cent from its previous close.

Zydus Cadila is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies. The group employs over 23,000 people worldwide and is dedicated to creating healthier communities globally. Zydusaspires to be a research-based pharmaceutical company by 2020.