Pacquiao's lawsuit, filed in December 2009 in Las Vegas federal court, alleged that promoters Oscar De La Hoya and Richard Schaefer of Golden Boy Promotions, along with boxer Floyd Mayweather Jr. and his father, Floyd Sr., defamed Pacquiao with their comments alleging his use of such drugs, the Las Vegas Sun reported Wednesday.
Details of the settlement agreement were kept private, the newspaper said.
"Richard Schaefer and Oscar De La Hoya, on behalf of themselves and Golden Boy Promotions, wish to make it crystal clear that we never intended to claim that Manny Pacquiao has used or is using any performance enhancing drugs, and further state that we do not have any evidence whatsoever of such use," the promotion group said in a statement.
While Pacquiao has settled with Golden Boy Promotions, a lawsuit against the Mayweathers will continue, the Sun said.
Wisconsin business offering 'therapeutic cuddling' forced to close
'SNL': 'Anchorman 2' cast, One Direction sing 'Afternoon Delight' [VIDEO]