Teva wins US nod for Actavis after divestiture of 79 drugs
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London
THE US Federal Trade Commission (FTC) has approved Teva Pharmaceutical Industries Ltd's US$40.5 billion purchase of Allergan Plc's generic drug-making unit after the companies agreed to the biggest divestiture ever in a pharmaceutical merger to preserve competition.
The companies agreed to sell 79 existing and future drugs including anaesthetics, antibiotics, weight-loss drugs and oral contraceptives to 11 rival firms to win approval, according to an FTC statement on Wednesday. The divestitures must be completed 10 days after Teva's acquisition of Allergan's generics unit Actavis Inc is complete, the commission said.
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