Sun Pharmaceutical has moved closer to wrapping up its proposed acquisition of Ranbaxy Laboratories with the US Federal Trade Commission completing its review.
MUMBAI: Sun Pharmaceutical has moved closer to wrapping up its proposed acquisition of Ranbaxy Laboratories with the US Federal Trade Commission (FTC) completing its review of the $4-billion deal. The FTC has granted early termination of the waiting period under the Hart-Scott-Rodino Anti-trust Improvements Act of 1976, one of the conditions for closing the Ranbaxy acquisition.
"Sun Pharmaceutical and Ranbaxy also announced that the FTC accepted a proposed consent agreement pursuant to which, Sun and Ranbaxy have agreed to divest Ranbaxy's interests in generic minocycline tablets and capsules to an external third party," Sun said in a statement. "Sun Pharmaceutical and Ranbaxy are working closely towards completion of the transaction and will comply with the conditions laid down in the FTC consent agreement within the specified time."
MUMBAI: Sun Pharmaceutical has moved closer to wrapping up its proposed acquisition of Ranbaxy Laboratories with the US Federal Trade Commission (FTC) completing its review of the $4-billion deal. The FTC has granted early termination of the waiting period under the Hart-Scott-Rodino Anti-trust Improvements Act of 1976, one of the conditions for closing the Ranbaxy acquisition.
"Sun Pharmaceutical and Ranbaxy also announced that the FTC accepted a proposed consent agreement pursuant to which, Sun and Ranbaxy have agreed to divest Ranbaxy's interests in generic minocycline tablets and capsules to an external third party," Sun said in a statement. "Sun Pharmaceutical and Ranbaxy are working closely towards completion of the transaction and will comply with the conditions laid down in the FTC consent agreement within the specified time."
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