Teva/Barr let the competition continue

Executive Summary

Teva will divest assets in 29 U.S. markets to settle Federal Trade Commission charges that the generic giant's $8.9 billion acquisition of rival firm Barr would be anticompetitive. The consent order requires Teva and Barr to sell assets of certain formulations of 16 overlapping on-market generic drugs, representing approximately $60 million in the companies' annual sales, and 13 overlapping pipeline generic drugs; drugs include those commonly used to treat acid reflux disease, cancer, bacterial infections, diabetes and depression. Assets will be divided between current generic competitors Watson and Qualitest