Valeant Pharmaceuticals Receives FTC Second Request Under Hart-Scott-Rodino
Valeant Pharmaceuticals International announced that the company has received a request for additional information from the Federal Trade Commission ("FTC") in connection with Valeant's proposed acquisition of Allergan, Inc. The information request was issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act").
The effect of the second request is to extend the waiting period imposed by the HSR Act until 30 days after Valeant has substantially complied with the request, unless that period is terminated sooner by the FTC. Valeant is cooperating fully with the FTC's review and will take all actions necessary to obtain regulatory approval for the proposed transaction on a timely basis.