FTC puts conditions on Baxter's proposed acquisition of Claris Injectables

21 July 2017

Baxter International (NYSE: BAX) a nd Claris Lifesciences Limited have agreed to divest two types of pharmaceutical products to settle Federal Trade Commission charges that Baxter’s proposed $625 million acquisition of Claris Injectables business of the Indian parent company is anticompetitive.

According to a complaint filed by the FTC, the acquisition, announced last December, as proposed is likely to:

reduce current competition in the USA for the antifungal agent fluconazole in saline intravenous bags, which is used to treat fungal and yeast infections. In the US market, Illinois-based Baxter and India-based Claris are two of only four significant competitors selling fluconazole in saline intravenous bags and have a combined estimated market share of nearly 60%.
reduce imminent, 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. Used as a short-term treatment for life-threatening heart failure, intravenous milrinone is currently sold in the United States by three companies – Baxter, Hikma and Pfizer. Claris is expected to enter this market shortly, once its pending application at the FDA is approved.

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