Baxter acquires ESI in $305M deal
US health care firm Baxter International has been given approval by theUS Federal Trade Commission to acquire Wyeth subsidiary ESI Lederle for $305 million, in a deal which was first announced during the summer of last year (Marketletter June 17, 2002).
The completion of the acquisition is subject to certain conditions imposed by the FTC, which require Baxter to divest several products and conclude distribution agreements that overlap with ESI products. Moreover, Baxter will terminate its exclusive marketing and distribution rights on its metoclopramide product for injection.
Meantime, Australia-based Mayne Group, or another approved buyer, will obtain the rights to two products that were in ESI's development pipeline: propofol emulsion for injection and fluconazole.
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