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.
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