Mylan receives FTC clearance for proposed Meda acquisition
CANONSBURG – Mylan N.V. said Wednesday the U.S. Federal Trade Commission cleared its proposed transaction to acquire Meda Aktiebolag subject to Mylan’s divestiture of certain products which it said are not significant to its earnings.
The FTC clearance represents the final regulatory clearance required to complete the offer and Mylan, which is incorporated in the Netherlands, but its administrative headquarters in Southpointe, now received all antitrust regulatory clearances required to acquire Meda.
The FTC said the deal could threatened combination for carisoprodol tablets, which treat muscle spasms and stiffness. As a result of the FTC order, Mylan will relinquish its U.S. marketing rights for the drug.
Mylan will also sell its generic felbamate tablets, which treat epilepsy, to Alvogen Pharma US Inc.
The FTC approval was the last regulatory step needed to complete the Meda deal, following approval by European Union competition regulators last week with a requirement of asset sales in several European countries.
Mylan said in early May it was set to acquire Sweden-based Meda, a leading international specialty pharmaceutical company, in a deal worth $7.2 billion.
The transaction is expected to be completed by the end of the third quarter.