The Federal Trade Commission on Thursday approved a final order requiring Mylan NV to divest its U.S. rights to two generic drugs in its $7.2 billion acquisition of Swedish pharmaceutical company Meda, saying the deal could otherwise have eliminated competition for the drugs.
The order comes as the FTC faces congressional pressure to investigate whether global company Mylan, based in the United States in Canonsburg, Pennsylvania, engaged in anti-competitive behavior on the way to securing an effective monopoly for the EpiPen, the epinephrine auto-injector that saw a roughly 500 percent price increase since the company acquired it in 2007.
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