In a regulatory filing, Retrophin (RTRX -2.5%) discloses that it settled its lawsuit with Questcor Pharmaceuticals. Under the terms of the settlement, Questcor paid Retrophin $15.5M in exchange for a mutual release of all claims against each other.
Retrophin filed the suit on January 7, 2014, accusing Questcor of violating antitrust laws by monopolizing certain therapeutic drug markets. The spat pertained to a synthetic fragment of Acthar Gel called Synacthen that was owned by Novartis. Retrophin offered Novatis $16M for the product with the intent of competing against Acthar. On the day Retrophin was to sign the deal, Questcor offered Novartis $135M, which Novartis accepted, considering that it could keep the money even if Questcor lost its rights to the product on antitrust grounds. Retrophin claimed that Questcor's intent was just to eliminate a competitive threat.