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Last Updated
Case Status
Pending
In the Matter of Hikma Pharmaceuticals, PLC, a corporation; Custopharm, Inc., a corporation; Water Street Healthcare Partners, LLC, a limited liability company; Water Street Healthcare Partners III, L.P., a limited partnership; Water Street Healthcare Partners IV, L.P., a limited partnership; and Long Grove Pharmaceuticals LLC, a limited liability company.
FTC Matter/File Number
2210001
Enforcement Type
Part 2 Consents

Case Summary

As a condition of Hikma Pharmaceuticals PLC’s $375 million acquisition of generic drug services company Custopharm, Inc., the Federal Trade Commission required Custopharm’s parent company, private equity fund Water Street Healthcare Partners, LLC to retain and transfer Custopharm’s assets related to the corticosteroid drug triamcinolone acetonide, or TCA, to another company Water Street owns, Long Grove Pharmaceuticals, LLC. According to the complaint, absent a remedy, Hikma likely would have stopped developing its injectable TCA product, forestalling the increased price competition it would have brought to the market. Thus without this remedy, the acquisition likely would have harmed future competition in the U.S. market for injectable triamcinolone acetonide.