Federal Trade Commission puts conditions on Novartis acquisition of GSK oncology portfolio

24 February 2015

The US Federal Trade Commission has put conditions on the proposed acquisition by Novartis (NOVN: VX) of GlaxoSmithKline’s (LSE: GSK) oncology drugs.

As part of the US requirements for the asset swap between the companies last April, Novartis has agreed to divest all assets related to its BRAF and MEK inhibitor drugs currently in development to Array Biopharma (Nasdaq: ARRY) to settle doubts that its $16 billion acquisition of GSK’s oncology portfolio would be anticompetitive.

This follows the European clearance for the asset swap to take place.

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