FTC OKs Bristol-Myers/Teva Deal On Paraplatin

Law360, New York (May 26, 2004, 12:00 AM EDT) -- The Federal Trade Commission has approved “some terms” of a proposed settlement of a patent suit filed by drug originator Bristol-Myers Squibb Co. against a unit of Israeli generic drug maker Teva Pharmaceutical, Bristol-Myers said.

The FTC has told Bristol-Myers that the agreement doesn't raise issues under Section 5 of the Federal Trade Commission Act, according to a Form 8K filed with the Securities and Exchange Commission. The agreement was contingent upon several conditions, including approval by the FTC.

In April, Bristol-Myers Squibb and Teva Pharmaceutic...
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