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FTC: Teva to divest 79 products to complete new pharmaceutical acquisition

By Mark Iandolo | Aug 2, 2016

Medical malpractice 09

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 them.”

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 3M Company.

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U.S. Federal Trade Commission