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U.S. sets conditions for Hikma's takeover of Boehringer's Roxane

Reuters - UK Focus

WASHINGTON, Feb 26 (Reuters) - Drug manufacturer Hikma Pharmaceuticals Plc will sell the rights and assets of two generic drugs and relinquish its U.S (Other OTC: UBGXF - news) . marketing rights to a third generic drug in order to settle Federal Trade Commission charges that Hikma's proposed $2 billion acquisition of Roxane would likely be anticompetitive, the FTC said on Friday.

The agency said the proposed consent order "preserves competition by requiring the companies to divest to Pennsylvania-based Renaissance Pharma Inc three strengths of anti-inflammatory and immunosuppressant prednisone tablets and all strengths of lithium carbonate capsules, used to treat bipolar disorder."

Roxane Labs is the U.S.-based generics unit of German drugmaker Boehringer Ingelheim. (Reporting by Washington Newsroom; Editing by Jeffrey Benkoe)