NEWS FTC approves Sun Pharma’s $4bn Ranbaxy merger
Te US Federal Trade Commission (FTC) has given the green light
for Sun Pharmaceutical
Industries to merge with Indian generic drug maker Ranbaxy for $4 billion. Approved by the FTC on January 30, the deal
is allowed only if the companies sell the arm of Ranbaxy that produces generic minocycline tablets. Minocycline is an antibiotic used to treat
pneumonia, acne and urinary tract infections. Without that sale, the FTC said it had
feared the merger would be anti-competitive, reducing the number of US suppliers of generic minocycline tablets in three dosage strengths. India-based drug maker Torrent
Pharmaceuticals will now acquire the divested assets from Ranbaxy. Sun and Ranbaxy announced last April that
Sun would be merging with the Indian company. Sun claimed the deal would create the fiſth largest generic pharma company in the world. However,
the transaction’s completion
was delayed until January. Te Securities and Exchange Board of
India investigated
the deal, suspecting insider trading, but the Competition Commission of India approved it in December last year.
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Life Sciences Intellectual Property Review Volume 2, Issue 2
7
POPROTSKIY ALEXEY /
SHUTTERSTOCK.COM
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