Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Teva Pharmaceutical Industries Ltd.’s $40.5 billion acquisition of Allergan plc’s generic pharmaceutical business would be anticompetitive.
Under the order, first announced in July 2016, Teva is required to divest the rights and assets related to 79 pharmaceutical products to 11 firms. The case marks the largest drug divestiture order in an FTC pharmaceutical merger case. The FTC order will preserve competition in U.S. pharmaceutical markets where Teva and Allergan compete now or would likely have competed in the future if not for the merger.
Israel-based Teva, a global manufacturer of generic and branded pharmaceuticals, is the largest generic pharmaceutical producer in the world. Allergan is also a global producer of generic, branded and over-the-counter pharmaceuticals, and the third largest generic producer in the U.S.
The Commission vote approving the final order was 3-0. (FTC File No. 1510196; the staff contact is Michael Moiseyev, Bureau of Competition, 202-326-3106.)
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