Watson Pharmaceuticals agreed to sell rights to 18 drugs to win approval from the U.S. Federal Trade Commission for its m&a of Actavis Inc.
Watson and Actavis will sell the rights to Sandoz International GmbH and Par Pharmaceuticals Inc. and give up manufacturing and marketing rights to three other medicines to resolve competition concerns, the FTC said in a statement today.
Watson completed the acquisition of closely held Actavis for 4.25 billion euros ($5.5 billion) to create the third-largest global generic-drug maker in a striking M&A deal.
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