King Pharmaceuticals obtains FTC clearance for $1.6 acquisition of drugmaker Alpharma
Clients King Pharmaceuticals, Inc.
Jones Day represented King Pharmaceuticals, Inc. as antitrust counsel in its $1.6 billion acquisition of New Jersey drugmaker Alpharma Inc., a leading developer and seller of pharmaceutical products for the treatment of pain. The transaction was cleared by the Federal Trade Commission after a Second Request and consent agreement whereby King agreed to divest KADIAN® to Actavis for $127.5 million. The parties persuaded the FTC to permit King to retain both Remoxy and Embeda, products in development for the abuse-deterrent, round-the-clock treatment of moderate to severe chronic pain. King was also permitted to retain Avinza, indicated for the round-the-clock treatment of moderate to severe chronic pain.