Inverness Agrees To Sell Pregnancy Test Assets

Law360, New York (December 29, 2008, 12:00 AM EST) -- Inverness Medical Innovations Inc. has agreed to sell assets it acquired from rival ACON Laboratories Inc. in 2006 in order to settle a U.S. Federal Trade Commission lawsuit alleging that it has stifled competition in the pregnancy-test market.

Under a consent degree with the FTC, Inverness will sell assets related to water-soluble dye technology used in pregnancy tests, and allow ACON to compete freely with Inverness through a joint venture with Church & Dwight Co. Inc.

In its complaint, also filed Wednesday, the FTC alleges that...
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