Watson/Actavis Merger Requires Near Record Divestiture; Sandoz, Par Pick Up 18 Products

The required divestitures are quite significant relative to the size of the transaction: this is the second-largest divesture, but only the fifth-largest merger of generic firms.

Allergan PLC agreed to sell 18 products and relinquish rights to three others to get Federal Trade Commission clearance to acquire Actavis, making it the second largest divestiture in the history of generic mergers.

The breadth of the agreement does not reflect a tougher posture by FTC, however. Seth Silber, a former advisor to...

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