FTC Approves Final Order Preserving Competition in Markets for Acne Treatments

Washington, DC - Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Valeant Pharmaceuticals International, Inc.’s proposed $475 million acquisition of Precision Dermatology, Inc. would likely be anticompetitive.

Under the order, Valeant has agreed to sell Precision’s assets related to two acne treatments - Tretin-X, its branded single-agent topical tretinoin, and generic Retin-A - within 10 days of consummating the transaction.

According to the FTC’s complaint, first announced in July 2014, Valeant’s acquisition of Precision as originally proposed would likely reduce competition in the market for branded and generic single-agent topical tretinoins, and in a separate market for generic Retin-A.

The Commission vote approving the final order was 5-0. (FTC File No. 141 0101; the staff contact is Lynda Lao, Bureau of Competition, 202-326-3054)

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