Following a public comment period, the Federal Trade Commission approved a final order settling charges that Hikma Pharmaceuticals PLC’s acquisition of certain Baxter Healthcare assets was anticompetitive. Specifically, the FTC complaint alleged that the transaction as proposed likely would have resulted in reduced competition and higher prices for two generic injectable drugs – phenytoin and promethazine.
The FTC order settling the charges requires Hikma, within 10 days of the acquisition, to divest all of its rights and assets related to generic injectable phenytoin and promethazine to X-Gen Pharmaceuticals Inc., which is based in New York.
The Commission vote approving the final order was 5-0. It can be found on the FTC’s website and as a link to this press release. (FTC File No. 111-0051, Docket No. C-4320; the staff contact is Kari A. Wallace, Bureau of Competition, 202-326-3085; see press release dated April 27, 2011)
Copies of the document mentioned in this release are available from the FTC’s website at http://www.ftc.gov and from the FTC’s Consumer Response Center, Room 130, 600 Pennsylvania Avenue, N.W., Washington, DC 20580. Call toll-free: 1-877-FTC-HELP. Like the FTC on Facebook and follow us on Twitter.(FYI 27.2011.wpd)