Horizon Pharma to pay $65 million in settlement with Express Scripts
Ireland-based drugmaker Horizon Pharma (Nasdaq: HZNP) saw its share price drop by more than 5% in a day following news that it will pay US pharmacy benefit manager Express Scripts $65 million to settle rebate litigation.
Express Scripts had initially asked for $166.2 million as it took legal action in November of last year against the Dublin-based company for alleged after-market rebates for three of its medicines.
These were Rayos (prednisone), a rheumatology treatment, along with pain relief products Duexis (ibuprofen/famotidine) and Vimovo (naproxen/esomeprazole magnesium).
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