FTC OKs $1.6B King, Alpharma Deal With Divestiture

Law360, New York (December 30, 2008, 12:00 AM EST) -- The U.S. Federal Trade Commission has allowed King Pharmaceuticals Inc. to complete its approximately $1.6 billion acquisition of rival Alpharma Inc., but it forced the sale of Alpharma’s long-acting opioid analgesic drug, Kadian, to alleviate competition concerns.

The pharmaceutical was sold to generic-drug maker Actavis, which the FTC said should allow competition between Kadian and King’s long-acting opioid, Avinza. That competition would have been lost as a result of the acquisition, the FTC maintained.

King said Tuesday that it had completed the divestiture of Kadian in...
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