Federal Trade Commission OKs Novartis AG (NVS)' $1.5 Billion Fougera (AAA) Buy With Divestitures
7/17/2012 7:29:48 AM
Antitrust regulators told Swiss drugmaker Novartis AG it will have to give up marketing rights to four skin care products as part of its $1.53 billion deal for dermatology drug maker Fougera Pharmaceuticals. The Federal Trade Commission told Novartis it needs to sell three drugs and return the rights to a fourth product to its manufacturer. The FTC is requiring Novartis to sell the products, which include a topical anesthetic and a treatment for psoriasis, because Novartis and Fougera both have large shares of the U.S. market for the products.