U.S. FTC approves Hikma deal for Custopharm with conditions -Breaking
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© Reuters. FILE PHOTO – Signage seen at Washington, D.C., Federal Trade Commission Headquarters, U.S.A, August 29, 2020. REUTERS/Andrew KellyWASHINGTON, Reuters – The U.S. Federal Trade Commission on Tuesday announced that generic drug manufacturer Hikma Pharmaceuticals (OTC;) was granted approval by the U.S. to purchase Custopharm, Inc. This is subject to it releasing an injectable steroid.
Hikma makes painkillers, anesthetics, sedatives and other drugs. The company announced the agreement in September to increase its US injectable treatment division. The deal was worth $425 million.
Custopharm and the FTC have reached a settlement. Custopharm will continue to own assets related the the corticosteroid medication triamcinolone-acetonide or TCA. It will transfer them to another affiliate.
“Hikma’s acquisition of Custopharm’s TCA business could have caused significant harm for patients who use TCA to treat severe skin conditions, allergies, and inflammation,” Holly Vedova, director of the FTC’s Bureau of Competition, said in a statement.
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