Following a public comment period, the Federal Trade Commission has issued a modified final order settling charges that Perrigo Company's $540 million acquisition of Paddock Laboratories, Inc., as proposed, was anticompetitive and would have reduced the number of manufacturers for four products used to treat conditions such as skin disorders, allergic reactions, and nausea. The FTC also alleged that the deal would eliminate future competition for two other products, a generic topical steroid and a generic anti-inflammatory drug. To settle the FTC's charges, the companies were required to sell six generic drugs to Watson Pharmaceuticals, Inc.
The Commission vote to issue the modified final order and a letter to the member of the public who commented on it was 4-0-1, with Commissioner Maureen K. Ohlhausen not participating. The order can be found on the FTC's website and as a link to this press release. (FTC File No. 111-0083, Docket No. C-4329; the staff contact is Christine Palumbo, Bureau of Competition, 202-326-3330; see press release dated July 26, 2011.
The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC's online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 2,000 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s website provides free information on a variety of consumer topics. Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.(FYI 23.2012.wpd)