For Your Information
FTC Issues Final Orders Settling Charges of Illegal Agreement not to Compete
Following a public comment period, the Federal Trade Commission has approved final orders settling charges that pharmaceutical companies Concordia Pharmaceuticals Inc. and Par Pharmaceutical, Inc. entered into an unlawful agreement not to compete in the sale of generic versions of Kapvay, a prescription drug used to treat attention deficit hyperactivity disorder.
Under the orders, first announced in August 2015, the companies agreed not to enforce the anticompetitive provisions of their agreement. The companies also are prohibited from agreeing with other entities to bar or delay entry of an authorized generic after the patents covering the branded product have expired.
The FTC originally named private equity fund TPG Partners VI, L.P. – the parent of Par at the time – as a respondent. However, due to TPG’s recent sale of Par, the Commission has removed TPG as a respondent and modified the complaint and the decision and orders accordingly.
The Commission vote approving the final orders was 4-0. (FTC File No. 151 0030; the staff contact is Bradley S. Albert, Bureau of Competition, 202-326-3670)
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Contact Information
MEDIA CONTACT:
Betsy Lordan
Office of Public Affairs
202-326-3707