The Federal Trade Commission has approved American Home Products' (AHP) plan to divest its tetanus and diphtheria assets to Medeva, PLC. AHP's corporate offices are located in Madison, New Jersey. Medeva is an international prescription pharmaceutical company headquartered in London.
Prior FTC approval of the divestiture was required under a 1995 Commission order that resulted from the FTC's challenge to AHP's $9.7 billion acquisition of American Cyanamid Company. The Commission's complaint charged that the acquisition could substantially reduce competition in, among other markets, the U.S. market for tetanus and diphtheria vaccines. The settlement required that AHP divest its tetanus and diphtheria vaccines business to a Commission-approved buyer.
The Commission vote to approve the divestiture was 4-0, with Chairman Robert Pitofsky recused.
Copies of the letter approving the divestiture, as well as other documents associated with this case, are available from the FTC's Public Reference Branch, Room 130, 6th Street and Pennsylvania Avenue, N.W., Washington, D.C. 20580; 202-326-2222; TTY for the hearing impaired 202-326- 2502. 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
(FTC Docket No. C-3557).