FTC tells Mylan to sell 11 drugs to complete $1.6B Agila deal

The U.S. Federal Trade Commission favors Mylan's ($MYL) $1.6 billion buyout of Agila Specialties, but is insisting the companies sell off 11 injectable drugs in markets where it believes the deal would harm competition, Bloomberg reports. "This proposed settlement will ensure that these important generic injectable medications, which are used to treat conditions ranging from heart disease and hypertension to cancer, remain available at a competitive price," Deborah Feinstein, director of the FTC's Bureau of Competition, said in a statement. India also has signed off on Mylan's deal to buy the injectable unit from Strides Arcolab. The company reportedly agreed to maintain the production of certain drugs in India that Agila currently manufacturers. Story | More