Hospira's Mayne buy cleared by US FTC

Hospira, a US global hospital products company, and Mayne Pharma, an Australia-based specialty injectable drugmaker, have said that, subject to the divestiture of certain overlapping products, the US Federal Trade Commission has cleared the way for the former to proceed with its proposed acquisition of Mayne. The product divestitures are not material to the transaction, they noted.

"We're pleased to receive FTC clearance and move closer to becoming the world's leader in generic injectable pharmaceuticals," said Christopher Begley, chief executive of Hospira, adding: "following the combination of our companies, we will be even better positioned to help reduce the overall costs of health care worldwide." Hospira and Mayne expect that, subject to final court approvals and customary closing conditions, the transaction will be completed in the first week of February.