(Updates with description of drugs that will be divested in second paragraph.)
Dec. 12 (Bloomberg) -- Valeant Pharmaceuticals International Inc. won U.S. antitrust approval to acquire Johnson & Johnson’s Ortho Dermatologics and Sanofi’s Dermik unit, the Federal Trade Commission said.
As a condition of approval, Mississauga, Ontario-based Valeant must sell manufacturing and marketing rights to two drugs for acne and pre-cancerous lesions to a unit of Mylan Inc., according to the FTC’s statement, released today. Valeant also must sell marketing rights for a wrinkle treatment to closely held Spear Pharmaceuticals Inc., according to the statement.
Without the divestments, Valeant’s purchase of Dermik and Ortho Dermatologics would reduce competition in skin-care markets, leading to higher prices, the statement said.
Laurie Little, a Valeant spokeswoman, didn’t immediately respond to a phone message seeking comment.
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