Generic drug maker Hikma Pharmaceuticals has won US antitrust approval to buy Custopharm, Inc on condition that it divest an injectable steroid, the US Federal Trade Commission said on Tuesday.
Hikma, which makes anesthetics, pain medications, sedatives, neuromuscular agents and other drugs, announced the deal in September as a way for it to strengthen its injectable treatments unit in the United States. It was valued at $425 million at that time. read more
Under a deal struck with the FTC, Custopharm’s parent company will retain assets related to the corticosteroid drug triamcinolone acetonide, or TCA, by shifting it to another subsidiary.
“Hikma’s acquisition of Custopharm’s TCA business could have caused significant harm for patients who use TCA to treat severe skin conditions, allergies, and inflammation,” Holly Vedova, director of the FTC’s Bureau of Competition, said in a statement.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI