Sun Pharmaceutical has won US approval to buy Ranbaxy Laboratories on condition that it sell its interest in a generic antibacterial medicine, the US Federal Trade Commission said on Friday.
In April last year, Sun Pharmaceutical had agreed to buy generic drug maker Ranbaxy from its owner Japan’s Daiichi Sankyo Co for $3.2 billion.
The Federal Trade Commission said it would allow the transaction if Ranbaxy sold its interests in generic minocycline tablets and capsules to generic maker Torrent Pharmaceuticals Ltd, which is also based in India.
According to this order, the drugs that Ranbaxy will have to divest include Terlipresslin, Rosuvastatin and Leuprorelin.
Sun Pharma will have to either divest its molecules or ask Ranbaxy to divest molecules held by it in other drug areas.
The FTC said the proposed acquisition would reduce the number of future suppliers in the markets for generic minocycline tablets.
Full Content: The Hindu
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 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