Announced Actions for October 4, 1996

The Federal Trade Commission today announced the following actions.

Commission action regarding applications for approval: Following a public comment period, the Commission has ruled on an application for approval of a transaction from the following:

• The FTC has approved the application of American Home Products Corporation (AHP), of Madison, New Jersey, to divest research assets related to its rotavirus vaccine to Korea Green Cross Corporation, a Korean firm. The divestiture was required under a 1995 consent order settling FTC charges that AHP’s acquisition of Cyanamid Company would reduce competition for research for a vaccine to treat rotavirus, as well as compe tition for other vaccines. The divestiture is intended to restore competition. (See Nov. 10, 1994, news release for more details about the consent order; Docket No. C-3557; Commission vote on Oct. 1 to approve the divestiture was 4-0, with Chairman Robert Pitofsky recused.) Staff contact is Roberta Baruch, 202-326-2861.

Commission action regarding petitions to reopen and modify FTC orders: Following a comment period, the FTC has ruled on a petition from the following:

• The FTC has granted the petition of HealthSouth Corporation, of Birmingham, Alabama, thereby ending HealthSouth’s obligation to obtain FTC approval before merging any of its rehabilitation hospital facilities in any of three areas -- Birmingham; Charleston, South Carolina; or Nashville, Tennessee -- with any competing rehabilitation hospital facility in those areas. The FTC has substituted for the prior-approval require ment a requirement that HealthSouth notify the Commission in advance of such a trans action. The prior-approval requirement was included in an April 1995 consent order settling charges that HealthSouth’s merger with ReLife Inc. would violate antitrust laws by substantially reducing competition among rehabilitation hospital facilities in the three areas. (See April 17, 1995, news release for more details regarding the consent order; Docket No. C-3570; Commission vote on Oct. 1 to grant the petition was 5-0.) Staff contact is Daniel Ducore, 202-326-2526.

Copies of the above documents are available from the FTC, Public Reference Branch, Room 130, 6th Street and Pennsylvania Avenue, N.W., Washington, D.C. 20580; 202-326-2222; TTY for the hearing impaired 1-866-653-4261. To find out the latest news as it is announced, call the FTC NewsPhone recording at 202-326-2710. FTC news releases and other materials also are available on the Internet at the FTC’s World Wide Web site at: http://www.ftc.gov