Nordion Inc. (NDZ,NDN.TO) Thursday said it has settled claims filed by Dr. Reddy's Laboratories Ltd. and its affiliates, relating to certain bioequivalence studies carried out by the former MDS Pharma Services business unit.
In 2009, Nordion was served with a complaint from Dr. Reddy's related to repeat study and mitigation costs of $10 million and lost profits of $70 million.
The settlement is expected to result in a loss of $1.4 million in the second quarter. The settlement will also result in a net cash outflow of $17 million that includes insurance proceeds received to date.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.