Pharmaceuticals distributor Cardinal Health (NYSE:CAH) is seeking to sell three nuclear pharmacies as part of a settlement with the Federal Trade Commission.
The settlement with the FTC required Cardinal to sell the pharmacies after federal regulators charged that Cardinal’s 2009 acquisition of three nuclear pharmacies from Biotech was anticompetitive, according to a statement from the FTC.
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Cardinal has reached an agreement to sell the pharmacies — in Las Vegas, Nevada; El Paso, Texas; and Albuquerque, New Mexico — to Patient Care Infusion, the FTC said.
The FTC’s issue with Cardinal’s purchase of the pharmacies from Biotech in 2009 was that Cardinal already operated its own pharmacies in the three cities above, so the agency charged that the purchase gave Cardinal a monopoly in those three markets.
In response, Cardinal entered into an agreement with the FTC to sell the pharmacies it owned in the three cities prior to the Biotech deal.
Cardinal said the sale of the three pharmacies won’t have a significant impact on its business.
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The FTC is seeking public comment on Cardinal’s application to sell the pharmacies.
[Photo from flickr user NASARobonaut]
