FTC final order requires Claris divestments for acquisition by Baxter

Following a public comment period, the Federal Trade Commission (FTC) has approved a final order designed to remedy the anticompetitive effects resulting from Baxter International’s (NYSE: BAX) proposed $625 million acquisition of India-based Claris Lifesciences’ injectable drugs business.

As indicated last month, the complaint alleges Baxter’s proposed acquisition would likely reduce current competition in the US market for the antifungal agent fluconazole, in saline intravenous bags, as well as future competition in the US market for intravenous milrinone, which dilates the blood vessels, lowers blood pressure and allows blood to flow more easily through the cardiovascular system.

The consent order requires the parties to divest all of Claris’ rights to fluconazole in saline intravenous bags and milrinone in dextrose intravenous bags to New Jersey-based pharmaceutical company Renaissance Lakewood.