FTC Blesses Daiichi Sankyo's $805M Plexxikon Buy

Law360, New York (March 23, 2011, 6:18 PM EDT) -- The Federal Trade Commission on Tuesday granted an early termination to its antitrust review of Daiichi Sankyo Co. Ltd.'s proposed $805 million purchase of Plexxikon Inc., a private Berkeley, Calif.-based pharmaceutical company with a promising late-stage treatment for metastatic melanoma.

The FTC said it had accepted the companies' request for an early termination, meaning the agency has completed its antitrust review of the deal and decided not to take any enforcement action during the statutory waiting period.

Tokyo-based Daiichi Sankyo said March 1 the deal would...
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