FTC seeks information on proposed Actavis acquisition of Warner Chilcott
Actavis, a globally integrated specialty pharmaceutical company focused on developing, manufacturing and distributing generic, brand and biosimilar products, and Warner Chilcott, a supplier of inhalation drug development, delivery and supply capabilities, have both received a request for additional information from the Federal Trade Commission (FTC) in connection with Actavis' pending acquisition of Warner Chilcott. The information request was issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended ("HSR Act").
The effect of the request is to extend the waiting period imposed by the HSR Act until 30 days after Actavis and Warner Chilcott have complied with the request, unless that period is extended voluntarily by the parties or terminated sooner by the FTC. Actavis and Warner Chilcott intend to cooperate with the FTC's review and expect the transaction to close in the second half of 2013.