Impax, CorePharma Merger May Proceed With Divestitures

Impax Laboratories Inc. may proceed with its $700 million acquisition of CorePharma LLC with the Federal Trade Commission’s approval of a final consent order settling accusations of likely anticompetitive effects (In re Impax Laboratories Inc., FTC, File No. 151-0011, 4/22/15).

The settlement, first announced in early March, required divestiture of CorePharma’s rights and assets to generic pilocarpine and ursodiol tablets, which will be purchased by Perrigo Company plc in Ireland.

These divestitures, the FTC concluded, are sufficient to preserve competition for each drug. Consequently, the revised transaction may go forward without offending either Clayton Act §7 ...