Teva to Sell 79 Drugs to Alleviate FTC Concerns About Allergan Pact

Teva Pharmaceuticals will sell off 79 pharmaceutical products to avoid FTC interference with its purchase of Allergan’s generics division.

Under an agreement reached with the FTC, Teva pledged to divest generics for a variety of indications — such as arthritis, cancer, diabetes and Parkinson’s disease — to 11 competitors. In exchange, the FTC has agreed not to pursue anticompetitive charges against the company over its planned $40.5 billion purchase of Allergan’s generic division.

The settlement requires Teva to divest the drugs within 10 days after the merger is complete.  Teva also must offer its API customers the option to enter into a long-term supply contracts to address anticompetitive effects linked to its role as an API supplier.