Perrigo, Paddock Must Sell 6 Drugs In $540M Merger

Law360, New York (July 26, 2011, 10:12 PM EDT) -- The Federal Trade Commission announced Tuesday that it will require generic-drug manufacturers Perrigo Co. and Paddock Laboratories Inc. to sell six of their drugs in order to resolve claims that Perrigo's proposed $540 million purchase of Paddock violates antitrust laws.

The proposed settlement order would mandate that Michigan-based Perrigo and Minnesota-based Paddock sell all assets related to the manufacture of six generic products to rival Watson Pharmaceuticals Inc. within 10 days of the acquisition.

The FTC said that divesting the drugs to Watson would replace the...
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