Parsippany-based specialty pharmaceutical company Actavis announced Friday the Federal Trade Commission approved the acquisition of Warner Chilcott by Actavis. The vote in support of the transaction follows Actavis' agreement to a proposed consent order, pursuant to which Actavis has agreed to divest certain products as a condition to obtaining FTC approval.
According to the announcement, the closing of the transaction remains subject to approval by the Irish High Court and other customary closing conditions. Under the terms of the deal, Actavis will divest four products to Amneal Pharmaceuticals. Terms of the divestitures were not disclosed.
Actavis shareholders approved the acquisitions earlier this month.