Actavis and Forest to divest four generics to gain FTC OK for merger
In order for Ireland-headquartered generics major Actavis (NYSE: ACT) to complete its previously-announced $25 billion takeover of Forest Laboratories (NYSE: FRX; The Pharma Letter February 18), the companies have agreed to sell or relinquish their rights to four generic pharmaceuticals, to settle US Federal Trade Commission charges that Actavis’ acquisition of Forest likely would be anticompetitive.
According to the FTC’s complaint, Actavis’ acquisition of Forest, as originally proposed, would violate federal antitrust laws by reducing competition in the markets for three current generic products:
- generic diltiazem hydrochloride extended release capsules (AB4) used to treat hypertension and chronic stable angina;
- generic ursodiol tablets used to treat primary biliary cirrhosis of the liver; and
- generic propranolol hydrochloride extended release capsules used to treat hypertension.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
More Features in Generics
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze