Pfizer’s acquisition of Arena without FTC intervention and Hikma’s acquisition of Custopharm with one product divestiture shows the commission is bound by anticompetitive facts of a deal. A more controversial merger may not get through, former FTC attorney says.

Hikma has completed its acquisition of Custopharm, expanding its US injectables business as the company continues to look for more deals.

Hikma has moved closer to completing a deal worth more than $400m to acquire Custopharm, which promises to bolster its US injectables business. However, the FTC’s approval of the transaction comes with conditions.

The Swiss firm expects no generic versions of Gilenya in the US market "for at least the next two years" after a court again ruled against HEC Pharma, the only remaining company challenging its patent.