US: Akorn, VersaPharm tie-up cleared with conditions

The US Federal Trade Commission said Monday it has approved of the proposed merger between pharmaceutical companies VersaPharm and Akorn, but has imposed conditions on the transaction.

Akorn plans to acquire VersaPharm in a $440 million deal first announced in May; the deal will expand Akorn’s drug marketing and development operations.

The FTC will require the firms to divest Akorn’s license of a generic tuberculosis drug in order to clear the transaction; VersaPharm is one of three companies that make the drug, regulators said.

Those rights will be acquired by Watson Laboratories, reports said.

Full content: Reuters

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