Federal Trade Commission OKs Novartis AG' $1.5 Billion Fougera Buy With Divestitures
Published: Jul 17, 2012
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.