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US: Groups urge FTC to take Mylan’s side in Teva deal

By  |  July 14, 2015

Mylan is dead set against a buyout bid from generics rival Teva Pharmaceutical Industries. But some U.S. consumer groups are spooked by the very talk of a deal, and they’re lobbying the Federal Trade Commission against it.

Consumers Union, Public Citizen and 6 other consumer and public interest groups urged the FTC to block a Teva-Mylan merger, if and when Teva’s hostile bid comes to fruition. Their argument? Together, the two companies would control enough of the generics market to drive up prices. The combined company would have a 25% market share, and “a virtual lock” on a variety of key generic meds, the letter states.

The groups specifically want the FTC to approach a Teva-Mylan tie-up differently, rather than relying on its usual approach of allowing mergers as long as the players sell off products or businesses that could crimp competition.

Full content: Bloomberg

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