Piramal Pharma Solutions, a wholly-owned subsidiary of Piramal Pharma, has reached a settlement in its ongoing legal dispute with VetDC, Inc. The two parties have agreed to settle for USD 407,400, following claims made by VetDC regarding damages after rejecting certain product batches manufactured and supplied by Piramal Pharma Solutions.
This settlement follows a previous intimation from the company on 30th November, 2023, which outlined the civil suit between the two companies. The legal action had centred around VetDC’s rejection of specific batches of products, with the company asserting its defence against the claims of liability and damages.
Despite maintaining its position on the legal merits of the case, Piramal Pharma Solutions opted to settle with VetDC in order to avoid ongoing legal expenses and the uncertainty of prolonged litigation. In the statement, the company clarified that it would not bear any further costs beyond the agreed settlement amount of USD 407,400.
The company also confirmed that the settlement would not have a significant impact on its financial position.
This move marks the resolution of the dispute, allowing both parties to put an end to the legal proceedings.