October 28, 2019 / 1:15 PM / 15 days ago

Allergan settles Alzheimer's therapy lawsuit for $750 million

Oct 28 (Reuters) - Allergan Plc said on Monday it had settled a class action lawsuit brought by a group of direct purchasers of Alzheimer’s disease therapy Namenda, resolving the litigation that was set to face trial this month.

Under the agreement, the drugmaker’s Forest units will pay $750 million to the plaintiff, which will be recorded as a charge in its third-quarter results.

The company said the settlement makes no admission of wrongdoing on its part.

Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Arun Koyyur

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