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Home » FTC Gives OK to Hikma’s Acquisition of Custopharm
FTC Gives OK to Hikma’s Acquisition of Custopharm
April 21, 2022
The Federal Trade Commission (FTC) has granted approval to UK-based Hikma Pharmaceuticals to acquire generic drugmaker Custopharm from Water Street Healthcare Partners.
The approval is contingent on Custopharm, which is headquartered in Carlsbad, Calif., divesting its corticosteroid drug triamcinolone acetonide (TCA) to another Water Street subsidiary, Long Grove Pharmaceuticals.
Hikma sells several injectable generic medicines in the U.S. market. Without the divestment, the FTC believes Hikma would stop developing its own injectable TCA drug, which would limit competition in the market.
Hikma said it now has all regulatory approvals needed to complete the $375 million deal.
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