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FTC requires Novartis to divest nicotine patch to settle joint venture concerns

( November 26, 2014, 19:06 GMT | Official Statement) -- MLex Summary: The US Federal Trade Commission required Novartis to divest its Habitrol nicotine patch business to settle the agency's challenge regarding the company's planned joint venture with GlaxoSmithKline, according to a a decision and order filed by the FTC Wednesday. The agency said that without the divestiture, Novartis’s ownership of both Habitrol and a substantial interest in a joint venture selling GSK’s nicotine patches would substantially reduce competition and lead to higher prices.See the attached documents....

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