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1
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ORDER REOPENING AND MODIFYING ORDER
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EXTRACTED KEY WORDS
PRIOR APPROVAL POLICY REOPENING APPROVAL POLICY STATEMENT MERGER MODIFY IVAX REQUEST COMPLAINT ACT PROVISION PRIOR NOTIFICATION FEDERAL TRADE COMMISSION MARKET ANTICOMPETITIVE MERGER PRESUMPTION ACQUISITION GENERIC VERAPAMIL MATTER DELETING PARAGRAPH NARROW PRIOR RESPONDENT CONSENT ORDER ORDER PURSUANT CONSISTENT PROCEEDING REASONS CLAYTON ACT REVIEWING CREDIBLE RISK |
UNITED STATES OF AMERICA
BEFORE FEDERAL TRADE COMMISSION
COMMISSIONERS: Robert Pitofsky, Chairman
Mary L. Azcuenaga
Janet D. Steiger
Roscoe B. Starek, III
Christine A. Varney
)
In the Matter of ))
IVAX Corporation, ) Docket No. C-3565
a corporation. )
)
ORDER REOPENING AND MODIFYING ORDER
On February 14, 1996, IVAX Corporation ("IVAX" or
"Respondent"), the respondent named in the consent order issued
by the Commission on March 27, 1995, in Docket No. C-3565
("Order"), filed its Request To Reopen and Modify Consent Order
("Request") in this matter. IVAX asks that the Commission reopen
and modify the Order pursuant to Section 5(b) of the Federal
Trade Commission Act, 15 U.S.C. § 45(b), and Section 2.51 of the
Commission's Rules of Practice and Procedure, 16 C.F.R. § 2.51,
and consistent with the Statement of Federal Trade Commission
Policy Concerning Prior Approval And Prior Notice Provisions,
issued on June 21, 1995 ("Prior Approval Policy Statement" or
"Statement").1 IVAX's Request asks that the Commission "reopen
the order issued on March 27, 1995, in this proceeding and modify
the Order by deleting Paragraph III." Request at 1. The thirty-
day public comment period on IVAX's Request ended on March 25,
1996. No comments were received. For the reasons discussed
below, the Commission has determined to grant IVAX's Request.
The Commission, in its Prior Approval Policy Statement,
"concluded that a general policy of requiring prior approval is
no longer needed," citing the availability of the premerger
notification and waiting period requirements of Section 7A of the
Clayton Act, commonly referred to as the Hart-Scott-Rodino
("HSR") Act, 15 U.S.C. § 18a, to protect the public interest in
effective merger law enforcement. Prior Approval Policy
Statement at 2. The Commission announced that it will
"henceforth rely on the HSR process as its principal means of
learning about and reviewing mergers by companies as to which the
60 Fed. Reg. 39745-47 (Aug. 3, 1995); 4 Trade Reg. Rep.
(CCH) ¶ 13,241.
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