WASHINGTON (Legal Newsline) — The Federal Trade Commission (FTC) has announced, following a public comment period, it approved a final order in the Teva Pharmaceutical Industries Ltd. case.

The order settles allegations that Teva’s $40.5 billion acquisition of Allergan plc’s generic pharmaceutical business would be anti-competitive.

 

The order was first announced in July and mandates Teva must divest the rights and assets to 79 pharmaceutical products to 11 firms. This is the largest drug divestiture order in FTC history when it comes to pharmaceutical mergers. According to the FTC, the final order will preserve competition in the United States in markets where Teva and Allergan compete.

 

Teva is the world’s largest generic pharmaceutical producer. Allergan is the third largest generic producer in the United States.

 

The FTC voted 3-0 to approve the final order.

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