FTC issues 'second request' to Teva, Cephalon over deal

JERUSALEM and FRAZER, Pa. — 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.

The "second request," as it often is called, is to extend the Hart-Scott-Rodino Antitrust Improvements Act of 1976 waiting period until thirty days after the parties substantially have complied with the request, the FTC said. Teva and Cephalon said they are in full cooperation with the FTC and continue to expect the acquisition will be completed in third quarter 2011.

As previously reported by Drug Store News, generic drug maker Teva said that it would buy Frazer, Pa.-based Cephalon for $6.8 billion in May.