FTC Clears Watson-Actavis Deal, With Conditions
October 15 2012 - 6:00PM
Dow Jones News
WASHINGTON--The Federal Trade Commission on Monday cleared
Watson Pharmaceuticals Inc.'s (WPI) proposed $5.9 billion
acquisition of Swiss rival Actavis, but required the companies to
sell the rights and assets to 18 drugs as a condition of government
approval.
Under a settlement with the FTC, the companies will sell those
assets to Sandoz International GmbH and Par Pharmaceutical Inc.,
the agency said.
The FTC also said Watson and Actavis will relinquish
manufacturing and marketing rights to three other drugs.
The agency said the settlement would protect competition in the
markets for current and future generic drugs used to treat a wide
range of conditions, from diabetes to anxiety and attention deficit
hyperactivity disorder.
Write to Brent Kendall at brent.kendall@dowjones.com
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