Avid Bioservices Inc (CDMO)

[biopharm]

If it is Actavis that plans on a big Peregrine spending spree.... I guess some Big Pharma lobbyists would then try to cry "monopoly" ... and get the FTC involved possibly.

Actavis and Forest Laboratories Receive FTC Second Request Under Hart-Scott-Rodino

April 17, 2014

DUBLIN and NEW YORK, April 17, 2014 /PRNewswire/ -- Actavis plc ACT -1.00% and Forest Laboratories, Inc. FRX -0.79% today announced that they have each received a request for additional information from the Federal Trade Commission ("FTC") in connection with Actavis' pending acquisition of Forest. The information request was issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended ("HSR Act").

The effect of the second request is to extend the waiting period imposed by the HSR Act until 30 days after Actavis and Forest have substantially complied with the request, unless that period is extended voluntarily by the parties or terminated sooner by the FTC. Actavis and Forest intend to cooperate fully with the FTC and they continue to expect the transaction to close in mid-year 2014.

About Actavis

Actavis plc ACT -1.00% is a global, integrated specialty pharmaceutical company focused on developing, manufacturing and distributing generic, brand and biosimilar products. Actavis has global headquarters in Dublin, Ireland and U.S. administrative headquarters in Parsippany, New Jersey, USA.

Actavis develops and manufactures generic, brand, branded generic, legacy brands and Over-the-Counter (OTC) pharmaceutical products and has commercial operations in approximately 60 countries. The Company's North American branded pharmaceuticals business is focused principally in the Women's Health, Urology, Gastroenterology and Dermatology therapeutic categories with a strong pipeline of products in various stages of development. Actavis also has a portfolio of five biosimilar products in development in Women's Health and Oncology. Actavis Global Operations has more than 30 manufacturing and distribution facilities around the world, and includes Anda, Inc., a U.S. pharmaceutical product distributor.

http://www.marketwatch.com/story/actavis-and-forest-laboratories-receive-ftc-second-request-under-hart-scott-rodino-2014-04-17-1618350

-----------------------

However, if a second request is issued, the companies must provide more information. Once the parties have certified that they have substantially complied with the request, the Commission has 30 additional days (10 days in the case of a cash tender or bankruptcy transaction) to complete its review of the transaction and to take action if necessary. The agency may decide at this point to: 1) close the investigation; 2) enter into a settlement with the companies; 3) take legal action in federal district court or through the FTC’s administrative process to block the deal from going forward.

http://www.ftc.gov/news-events/media-resources/mergers-and-competition/merger-review