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The Wall Street Journal: FTC give go-ahead for Mylan’s $7.2 billion purchase of Meda

Mylan NV has received U.S. Federal Trade Commission approval for its roughly $7.2 billion purchase of Swedish rival Meda, conditioned on Mylan divesting rights to two generic drugs.

The FTC said the deal could have threatened combination for carisoprodol tablets, which treat muscle spasms and stiffness. Under an FTC order, Mylan will relinquish its U.S. marketing rights for the drug, allowing its maker Indicus Pharma LLC to “compete independently in the U.S. market.”

Mylan MYL, +0.97% will also sell its to 400-milligram and 600-milligram generic felbamate tablets, which treat epilepsy, to Alvogen Pharma US Inc.

The FTC approval was the last regulatory step needed to complete the Meda MEDAA, -0.38% deal, following approval by European Union competition regulators a week ago with a requirement of asset sales in several European countries.

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