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Actavis Inc and Warner Chilcott PLC Receive U.S. FTC Clearance for Actavis Inc's Proposed Acquisition of Warner Chilcott PLC


Friday, 27 Sep 2013 02:27pm EDT 

Actavis Inc and Warner Chilcott PLC announced that the U.S. Federal Trade Commission (FTC) has voted to approve Actavis' proposed acquisition of Warner Chilcott. The vote in support of the transaction follows Actavis' agreement to a proposed consent order, pursuant to which Actavis has agreed to divest certain products as a condition to obtaining FTC approval. The closing of the transaction remains subject to approval by the Irish High Court and other customary closing conditions, and is expected to occur as soon as practicable after satisfaction of those conditions. Under the terms of the consent order with the FTC and subject to the consummation of the transaction between Actavis and Warner Chilcott, Actavis will divest four products to Amneal Pharmaceuticals. Terms of the divestitures were not disclosed. The divested products are: Actavis' Zenchent Fe (norethindrone acetate/ethinyl estradiol), a generic version of Femcon Fe Actavis' pending application for norethindrone acetate/ethinyl estradiol, a generic version of Lo Loestrin Fe. Actavis' pending application for risedronate sodium, a generic version of Atelvia. Actavis' approved application for norethindrone acetate/ethinyl estradiol, a generic version of Loestrin 24 Fe. This product is the subject of a settlement agreement that resolved patent litigation, pursuant to which the product may be launched in January 2014. 

Company Quote

261.66
-3.73 -1.41%
22 Dec 2014