This article was originally published in The Gray Sheet
Firms receive second request for information from the Federal Trade Commission regarding Tyco's proposed acquisition of respiratory products maker Mallinckrodt for about $4.2 bil., announced June 28 (1"The Gray Sheet" July 3, 2000, p. 7). According to Tyco, the request relates specifically to the firms' respective sales of endotracheal tubes, and revenues from that product line amount to "less than $20 mil." The request raises the possibility that the FTC may require Tyco to divest the business before approving the overall deal. The firms still hope to close the deal by September
You may also be interested in...
Tyco International's decision to account for its $4.2 bil. stock acquisition of Mallinckrodt as a purchase rather than a pooling-of-interests transaction, gives the company the flexibility to divest Mallinckrodt's imaging drugs and bulk pharmaceuticals businesses and concentrate on the fast-growing respiratory products division.
Join us for an audio catch-up on the latest key developments in the global biopharma industry, as reported by Scrip's global team, in this mini podcast version of Five Must-Know Things.
California proposes limiting short-form Prop 65 warnings to products with 5 inches or less of labeling space, while prohibiting their use in online and catalog warnings. The number of products with the warnings, used even on vacuum cleaners, luggage and guitars, has made tracking them impossible.