The Federal Trade Commission has given Teva Pharmaceutical Industries the green light to acquire Frazer, Pa.-based drug maker Cephalon, but with some restrictions, Teva said.
Teva Pharmaceutical Industries got the go-ahead from Cephalon’s shareholders to acquire the Frazer, Pa.-based company in a deal worth $6.8 billion.
Before they can move ahead with their deal, drug makers Teva and Cephalon must provide the Federal Trade Commission with additional information related to Teva's pending acquisition of Cephalon.
Cephalon has another suitor in the form of the world’s largest generic drug company.
Valeant Pharmaceuticals International is taking its case directly to Cephalon’s shareholders in its effort to acquire the Frazer, Pa.-based drug maker.
Cephalon plans to acquire a privately owned company developing treatments for cancer, Cephalon said Monday.