Lupin Ltd said its wholly owned US subsidiary, Lupin Pharmaceuticals Inc. (LPI), has entered into a settlement agreement with Humana Inc. in connection with ongoing antitrust litigation in the US.

LPI was among several companies named in a series of civil lawsuits alleging anti-competitive practices and violations of federal and state antitrust laws, which were consolidated under In Re Generic Pharmaceuticals Antitrust Litigation in Philadelphia.

While LPI has denied all allegations, the company opted to settle with Humana to avoid prolonged legal costs and uncertainties, especially as other defendants have recently reached settlements.

Under the agreement, LPI will pay $30 million for a full and final settlement of all claims made by Humana against the company and its affiliates. The company clarified that this provision had already been accounted for in its earlier consolidated financial results.

The settlement also states that LPI does not admit to any liability or wrongdoing as part of the agreement.