Glaxo plc

The Federal Trade Commission has given final approval to a consent agreement with Glaxo plc, settling charges that its $14.3 billion acquisition of Wellcome plc may substantially lessen competition in the U.S. market for the research and development of an improved class of medicines for the treatment of migraine headaches. Glaxo and Wellcome are competitors in the research and development of a class of drugs in non-injectable form used to combat migraine attacks, known as 5HT1D agonists. The Commission's action makes the consent order provisions binding on the respondents.

Under the final order, Glaxo will divest Wellcome's worldwide research and development assets for non-injectable 5HT1D agonists in order to create a viable competitor to replace the competition lost in the acquisition.

The consent agreement was announced for a public-comment period on March 16. The Commission vote to issue it in final form occurred on June 14, and was 5-0.

NOTE: A consent agreement is for settlement purposes only and does not constitute admission of a law violation. When the Commission issues a consent order on a final basis, it carries the force of law with respect to future actions. Each violation of such an order may result in a civil penalty of up to $10,000.

A news release summarizing the complaint and consent agreement was issued at the time the Commission accepted the consent agreement for public comment. Copies of that news release and of the complaint and final order are available from the FTC's Public Reference Branch, Room 130, 6th Street and Pennsylvania Avenue, N.W., Washington, D.C. 20580. 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 File No. 951 0054)

(Docket No. C-3586)