Teva Pharmaceutical Industries won United States antitrust approval to buy the specialty drug maker Cephalon after agreeing to conditions aimed at preserving competition in the market for the sleep disorder medicine Provigil and two other drugs.

Teva said it expected to close the deal, valued at nearly $7 billion, by Oct. 14, subject to approval by the European Commission.

The Federal Trade Commission required Teva to sell a rival generic drug maker, Par Pharmaceuticals, the rights and assets of a cancer pain drug developed by Cephalon and sold as Actiq, and a muscle relaxant, known chemically as cyclobenzaprine hydrochloride.

Teva also agreed to supply Par with Provigil, which is used to combat drowsiness, for one year.

Primarily a generic-drug maker, Teva recently bought Barr Pharmaceuticals and Ratiopharm to increase its brand-name offerings.

Article source: http://www.nytimes.com/2011/10/08/business/teva-agrees-to-conditions-for-merger-with-cephalon.html?partner=rss&emc=rss