WASHINGTON (Legal Newsline) — The Federal Trade Commission (FTC) approved a final order on July 10 to settle charges that Anneal Pharmaceutical's $1.45 billion acquisition of equity in Impax Laboratories would harm competition in some U.S. markets.
The FTC filed a complaint against the merger of Amneal and Impax earlier this year claiming it would damage competition in U.S. markets for several generic products including aspirin, desipramine hydrochloride tablets, simvastatin, erythromycin tablets, azelastine and hydrochloride nasal sprays, and fluocinonide-E cream, among others.
The FTC's settlement would allow ANI Pharmaceuticals Inc. to purchase seven products and Perrigo Company PLC to acquire Impax's rights for two products, which it worked with Impax to develop, manufacture and sell. The settlement also calls for G&W Laboratories to acquire Impax's marketing rights to a product that G&W manufactures for Impax, the FTC said.
The final order was approved with a 5 to 0 commission vote.