WASHINGTON (Legal Newsline) — The Federal Trade Commission
(FTC) has announced Teva Pharmaceuticals Ltd. will sell the rights and assets
to 79 pharmaceutical products to settle FTC charges related to its proposed
acquisition of Allergan PLC's generic pharmaceutical business.
The FTC had alleged the proposed $40.5 billion acquisition
would be anti-competitive. Teva’s divestiture, which will include the drug portfolio
of 11 firms – the largest drug divestiture order ever in an FTC
pharmaceutical merger case --- will preserve competition in many U.S. markets.
Divested products include anesthetics, antibiotics, weight
loss drugs, oral contraceptives and treatments for a wide variety of diseases
and conditions, including ADHD, allergies, arthritis, cancers, diabetes, high
blood pressure, high cholesterol, mental illnesses, opioid dependence, pain,
Parkinson’s disease, and respiratory, skin and sleep disorders.
“Millions of Americans rely daily on generic drugs to treat
a wide range of illnesses,” said Debbie Feinstein, director of the FTC’s Bureau of
Competition. “The FTC’s settlement safeguards the competitive
availability of these medications for patients across the country who depend on
Acquirers of the divested products include Mayne Pharma
Group Ltd., Impax Laboratories Inc., Dr. Reddy’s Laboratories Ltd., Sagent
Pharmaceuticals Inc., Cipla Limited, Zydus Worldwide DMCC, Mikah Pharma LLC,
Perrigo Pharma International D.A.C., Aurobindo Pharma USA, Inc., Prasco LLC and