Bureau Remedies Allergan Acquisition
April 5th, 2016
In a consent agreement reached with the Competition Bureau, Teva Pharmaceutical Industries Ltd. has agreed to divest assets related to two pharmaceutical products in order to complete its acquisition of Allergan plc in Canada.
Following its review of the proposed transaction, the Bureau concluded that it would likely have resulted in a substantial lessening or prevention of competition for the supply of
- tobramycin inhalation solution (used for the management of cystic fibrosis in patients with certain chronic pulmonary infections); and
- buprenorphine/naloxone oral tablets (used for substitution treatment in adult opioid drug dependence).
Under the consent agreement, the Commissioner has sole discretion to approve one or more buyers of the products, provided that the proposed buyer will provide effective competition in Canada.
Read the full press release from the Competition Bureau here.