The US Federal Trade Commission has indicated that biopharma mergers would have a tougher time clearing the agency. But it’s decision not to intervene in Pfizer Inc.’s $6.7bn acquisition of Arena Pharmaceuticals, Inc. and its requirement for a single pipeline product divestiture as a condition of Hikma Pharmaceuticals plc’s acquisition of Custopharm, Inc. show that such deals can go through despite the agency’s closer scrutiny and consideration of broader anticompetitive factors.
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