By Christian Moess Laursen

Novartis AG said Thursday that it would pay $245 million to end antitrust cases accusing the Swiss pharmaceutical company of anticompetitive conduct in the U.S.

The settlement relates to a 2011 license agreement between Novartis and Par Pharmaceutical, Inc., in which Par delayed the introduction of a generic drug that would compete with Novartis's prescription drug Exforge, a blood pressure regulator, effectively extending the life of Novartis's patents.

The settlement with direct purchasers, indirect purchasers, and retailers is subject to court approval, Novartis said.

"Once final, this settlement will resolve all outstanding claims related to this matter for Novartis," the company said.

Write to Christian Moess Laursen at christian.moess@wsj.com

(END) Dow Jones Newswires

December 29, 2022 06:16 ET (11:16 GMT)

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