FTC requiring Aurobindo Pharma to divest from four drug products to complete acquistion of Lannett (updated)
UPDATE 1-FTC requiring Aurobindo Pharma to divest from four drug products to complete acquistion of Lannett Adds FTC quote and context to paragraphs 2 and 3
June 18 (Reuters) - The U.S. Federal Trade Commission is requiring Aurobindo Pharma Limited ARBN.NS to divest four different generic drug products to complete its $250 million acquisition of Lannett Company Inc., the agency said on Thursday in a statement.
The agency will require Aurobindo to divest to Quagen Pharmaceuticals an immunosuppressant prescribed to prevent organ transplant rejection, a cholesterol management drug, a drug prescribed to treat dry mouth in radiation therapy patients and a drug prescribed to reduce stomach acid.
"Aurobindo’s acquisition of Lannett would combine two of a limited number of competitors in the markets for four different generic pharmaceutical products that provide critical relief for patients, ranging from drugs used to prevent organ transplant rejection to tablets that treat dry mouth after radiation therapy," the FTC said.
(Reporting by Ryan Patrick Jones, Writing by Christian Martinez; Editing by Doina Chiacu)
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