Antitrust Law Daily Wrap Up, ACQUISITIONS & MERGERS NEWS: Consent agreement reached in Teva’s proposed acquisition of generic pharmaceutical business, (Apr 5, 2016)

By Michael Menzhuber, J.D., LL.M.

The Canada Competition Bureau has reached a consent agreement with Teva Pharmaceutical Industries Limited, resolving competition concerns related to Teva’s proposed acquisition of Allergan plc’s generic pharmaceutical business, the agency announced today.

The Bureau had concluded that the proposed transaction would have likely resulted in a substantial lessening or prevention of competition for the supply of:

• tobramycin inhalation solution, a respiratory antibiotic that is used for the management of cystic fibrosis in patients with certain chronic pulmonary infections; and

• buprenorphine/naloxone oral tablets, an opiate antagonist and partial opiate agonist that is used for substitution treatment in adult opioid drug dependence.

The consent agreement requires Teva to sell either its own or Allergan’s Canadian assets related to the two pharmaceutical products. The Commissioner of Competition has the sole discretion, under the agreement, to approve one or more buyers for these products and will do so only if he concludes that the buyer(s) will provide effective competition in Canada.

Companies: Allergan plc; Teva Pharmaceutical Industries Ltd.

News: AcquisitionsMergers Antitrust