BRIEF—FTC imposes conditions on Amneal acquisition of Impax

Following a public comment period, the US Federal Trade Commission has approved a final order settleing charges that privately-held Amneal Pharmaceutical’s $1.45 billion acquisition of an equity share in Impax Laboratories likely would be anticompetitive.

The companies’ shareholders approved the deal in March this year, and closed on the transaction in May on conditional approval from the FTC.

Amneal’s shares dipped around 1% to $17.41 in morning trading.

According to the complaint, which was first announced in April 2018, the acquisition likely would harm current competition in US markets for three generic products: desipramine hydrochloride tablets; ezetimibe and simvastatin immediate release tablets; and felbamate tablets.

The acquisition also likely would harm future competition in US markets for seven generic products: aspirin and dipyridamole extended release capsules; azelastine nasal spray; diclofenac sodium and misoprostol delayed release tablets; erythromycin tablets; fluocinonide-E cream; methylphenidate hydrochloride extended release tablets; and olopatadine hydrochloride nasal spray.

Under the settlement, ANI Pharmaceuticals, will acquire seven products. Perrigo Company will acquire Impax’ rights to two products that it had partnered with Impax to develop, manufacture, and sell. G&W Laboratories will acquire Impax’s marketing rights to one product that G&W manufactures for Impax.

The Commission vote approving the final order was 5-0.