FTC settlement confirms conditions of Teva-Allergan deal

28 July 2016

The US Federal Trade Commission (FTC) has approved Teva Pharmaceutical Industries’ (NYSE: TEVA) takeover of the generics arm of Ireland-incorporated Allergan (NYSE: AGN) – subject to the Israeli company’s divestment of dozens of generic drugs.

This settlement, which will see Teva sell the rights and assets related to 79 products to 11 different firms, is the largest drug divestiture order in a pharmaceutical merger case.

By selling off the drug portfolio, Teva, which is the largest generic pharmaceutical producer in the world, is settling FTC charges that its proposed $40.5 billion acquisition of Allergan's generic pharmaceutical business would be anticompetitive.

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