LAKE FOREST, Ill. A U.S. maker of generic injectable drugs has moved closer to acquiring the injectables business of an Indian generic drug maker.
Hospira announced that the standard review period required by the Hart-Scott-Rodino Act for its bid to acquire the generic injectables arm of Chennai, India-based Orchid Chemicals & Pharmaceuticals had expired with no action by the Federal Trade Commission. The expiration brings Hospira closer to closing the deal, which it expects to happen in March.
“We’re pleased to move closer to adding Orchid’s proven-quality, cost-competitive generic injectables business to Hospira’s product portfolio and geographic footprint,” Hospira chairman and CEO Christopher Begley said in a statement. “Orchid’s capabilities provide a platform for future commercial growth, and we look forward to welcoming our new employees, whose talents and skill sets will contribute to Hospira’s success.”