FTC OKs Novartis' $1.5B Fougera Buy With Divestitures

Law360, New York (July 16, 2012, 7:38 PM EDT) -- The Federal Trade Commission on Monday approved Novartis AG's $1.5 billion purchase of dermatology treatment specialist Fougera Holdings Inc. from several private equity funds, after the drugmaker agreed to give up its marketing rights to four topical skin care treatments to alleviate competition concerns.

The FTC voted 5-0 to accept Novartis' proposed settlement, which resolves the agency's complaint that the proposed merger would reduce competition by cutting the limited number of suppliers for four skin treatments, including generic versions of scalp psoriasis treatment calcipotriene. Under the...
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