FTC Approves Endo’s Acquisition of Par
The FTC has cleared the way for Endo Pharmaceuticals to acquire Par Pharmaceuticals, pending the divestiture of two of its generic drugs.
To resolve anticompetitive concerns, Endo will sell the rights and assets to glycopyrrolate and methimazole tablets to Rising Pharmaceuticals in New Jersey. Used to treat ulcers and overproduction of thyroid hormone, the medications are not commonly produced and, if the drugmakers were allowed to keep them in their post-deal portfolio, costs would likely have been raised, the FTC said last week.
Under the FTC settlement, Endo will supply Rising Pharmaceuticals with the drugs for two years while it arranges for a third-party manufacturer.
The $8 billion deal, announced in May, will place Endo among the top five firms in the U.S. generics market, adding more than 100 new drugs and more than 200 ANDAs to its offerings.
The Par acquisition follows several large Endo purchases in recent years, the most recent being Auxilium for $2.6 billion last October. — Victoria Pelham