The .gov means it’s official.
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.
The site is secure.
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.
Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Hikma Pharmaceuticals plc’s $375 million acquisition of Custopharm, Inc. likely would have harmed competition in the market for the corticosteroid drug triamcinolone acetonide, or TCA.
Only Custopharm and a few other companies now make this drug. First announced in April 2022, the FTC’s complaint alleged that with this acquisition, Hikma was likely to stop developing its own TCA product, threatening competition in the TCA market.
The consent order removes any incentive for Hikma to terminate or delay marketing the TCA product it has under development, by requiring that Custopharm’s parent company retain and transfer Custopharm’s TCA assets to another one of its subsidiaries, Long Grove Pharmaceuticals, LLC. Historically, the entry of additional generic pharmaceutical competitors has led to lower drug prices.
The consent order also requires Long Grove to maintain the competitive viability of the retained TCA assets going forward. And it requires Hikma to seek Commission approval for future TCA-related acquisitions.
The Commission vote to approve the final order was 5-0.
The Federal Trade Commission works to promote competition, and protect and educate consumers. The FTC will never demand money, make threats, tell you to transfer money, or promise you a prize. You can learn more about how competition benefits consumers or file an antitrust complaint. For the latest news and resources, follow the FTC on social media, subscribe to press releases and read our blog.