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
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.