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Mallinckrodt has agreed to pay $100 million to settle Federal Trade Commission charges that it violated antitrust laws in relation to the market for Acthar, the company’s top-selling drug. The FTC alleges that Mallinckrodt and its Mallinckrodt ARD Inc. division, formerly known as Questcor Pharmaceuticals Inc., violated the laws when Questcor acquired “the rights to a drug that threatened its monopoly in the U.S. market” for adrenocortocotropic hormone drugs (ACTH) such as Acthar. Acthar is a specialty drug used to treat infantile spasms and other serious medical conditions.
Mallinckrodt Plc has agreed to pay $100 million to settle allegations that a subsidiary broke U.S. antitrust law by sharply increasing the price of a multiple sclerosis drug while ensuring that no rival medicine appeared on the market, the Federal Trade Commission said on Wednesday. Mallinckrodt's share price dropped sharply to just under $43 from above $49 on a report Wednesday, which proved incorrect, that the FTC would sue Mallinckrodt. In 2001, Questcor bought the rights to Acthar, a type of hormone-based drug used to treat infantile spasms as well as multiple sclerosis.
Regulators say company squelched competing drug for infant seizures.