login
Become a member
Quick Registration
Full Registration Benefits -
Free Homepages for Doctors
Free Homepages for Hospitals
Free Homepages for Medical Conference
Free Homepages for NGO's
Personal Health Record Creation
Access to all Medical Slides
Access to all Jobs & Products Sale
Conditional Nod for Proposed Teva Buy
The Federal Trade Commission said Friday it would allow the deal, which it had feared could reduce competition in the multi-billion-dollar market, if Teva sells the rights to two generic drugs ahead of the company's October 14 target date for the transaction.
The generic treatments -- a cancer pain compound and a muscle relaxant -- have US combined sales of around $300 million per year.
Israel-based Teva first announced in May its intent to acquire Pennsylvania-based Cephalon for $6.8 billion, including debt, overtaking a rival bid from from Canada's Valeant.
The FTC had stated in a complaint that market competition would be reduced and prices raised due to the acquisition.
The US agency said it will require Teva to sell its rights to its transmucosal fentanyl citrate lozenges used to treat cancer pain. Cephalon already has a branded version of the drug, called Actiq.
Three generic versions exist, but two of them are owned by Cephalon and Teva, meaning a merger would result in the firm having an 80 percent share of the generic product.
It also said the company would need to sell off its extended release version of a muscle relaxant. Cephalon has a branded version called Amrix, and Teva and Cephalon are among just a handful of suppliers that can quickly produce the drug. Their merger would result in less competition in the future.
|
|
|
 Comment & Contribute
|
Medwonders Health Network
- Health News Index
- News Quick Links
| News Categories: |
| » | Gasoigne Swaps Booze for Botox |
| » | Michelle Obama: Name of Olive Tree in Italy |
| » | Beyonce: Most Beautiful Women in the World |
| » | Robin Gibb Recovers from Coma Wakes Up to Cancer |
| » | Botox and Vitamin Jabs Maintain Simon Cowell’s Young Looks |
| More Celebrity News | |
|
