FTC Orders Hikma To Shed Drugs For $112M Baxter Deal

Law360, New York (April 27, 2011, 5:21 PM EDT) -- The Federal Trade Commission on Wednesday ordered Hikma Pharmaceuticals PLC to sell off an anti-seizure drug and an allergy and nausea treatment in order to go through with its $111.5 million bid for Baxter International Inc.'s generic injectables business.

Announced in late October, the all-cash deal would make the British pharmaceutical company the second-largest supplier of injectable drugs in the U.S., with 15 percent of the market share.

The commission concluded that the limited number of companies producing anti-convulsant phenytoin and nausea treatment promethazine in the...
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