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US: Actavis, Forest let go of generic rights

By  |  July 1, 2014

Pharmaceutical giants Actavis and Forest Laboratories have reportedly agreed to forfeit the rights to four generic drugs in order to secure approval for their proposed merger.

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    Reports say the Federal Trade Commission found that under original terms of the merger, the market would likely face reduced competition when it came to three generic pharmaceuticals, and would likely delay the introduction of a fourth generic.

    The settlement, which was accepted by the FTC on Monday, has the companies offering to release those rights to the generic drugs, reports say. The matter is now up for public comment through July 30.

    The rights will reportedly be sold to rivals Valeant, Impax and Catalent.

    Actavis and Forest first announced their merger plans in February, a deal valued at about $25 billion.

    Full content: Reuters

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