Washington: FTC has asked Ranbaxy to divest one generic product as a condition for clearing its USD 4 billion deal with Sun Pharma to address monopoly concerns.
Once consummated, the merger deal would create India’s largest and world’s fifth-biggest drug maker. To address monopoly concerns, the Federal Trade Commission said Sun Pharmaceutical Industries and Ranbaxy Laboratories have agreed to divest the latter’s interests in generic minocycline tablets.
Generic minocycline tablets are used to treat a wide array of bacterial infections, including pneumonia, acne, and urinary tract infections. The latest development comes more than a month after its Indian counterpart CCI directed both companies to divest seven products as it found that the deal could hit competition in the Indian market.