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AHP/Cyanamid merger

This article was originally published in The Tan Sheet

Executive Summary

FTC commissioners tentatively approve consent agreement with American Home Products covering the acquisition of American Cyanamid by a vote of 4-0. Under the agreement, AHP will sell its diphtheria and tetanus vaccines to Chiron and will manufacture and supply the vaccines until Chiron or its vaccine partners can begin manufacturing. AHP is required to license American Cyanamid's rotavirus vaccine research and to "discontinue reporting arrangements with licensees that may provide competitively sensitive information about cytokine drugs used in conjunction with chemotherapy." There will be a 60-day public comment period on the consent order. AHP has extended its tender offer for Cyanamid stock until 8 p.m. on Nov. 21
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