U.S. approves combination of Pfizer's Upjohn and Mylan

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WASHINGTON (Reuters) - The U.S. Federal Trade Commission said on Friday that it had approved generic drugmaker Mylan NV's MYL.O planned purchase of Pfizer's PFE.N Upjohn, subject to conditions.

The proposed transaction was announced in July.

To win approval for the deal, the companies agreed to sell assets related to several Upjohn products, including spironolactone HCTZ tablets used to treat high blood pressure and edema as well as Mylan’s eplerenone tablets, another high blood pressure medicine.

The European Union has already approved the proposed transaction.

Pfizer announced the deal in July as part of a strategy allowing it to focus on its more profitable newer medicines.

Reporting by Diane Bartz; Editing by Chizu Nomiyama