FTC approves Endo's purchase of Par Pharmaceuticals with two divestments

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WASHINGTON Endo International won U.S. antitrust approval to buy Par Pharmaceuticals, Inc on condition that it divest two generic medicines, the Federal Trade Commission said on Friday.

The deal was valued at about $8 billion when it was announced in May.

The FTC required Endo divest rights and assets to generic glycopyrrolate tablets, used to treat some ulcers, and generic methimazole tablets, which inhibits the production of excess thyroid hormones.

Rising Pharmaceuticals Inc, which is based in New Jersey, will buy the two medicines. Under the FTC settlement, Endo will provide the drugs to RP for two years until it arranges for production.

Par Pharma, which was sold by private equity firm TPG Capital, has focused on making generics that are difficult to make and administer because these drugs tend to have higher margins.

(Reporting by Diane Bartz; Editing by Alan Crosby)