UPDATE 1-US govt sues to block Omnicare's bid to buy PharMerica
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WASHINGTON, Jan 27 (Reuters) - U.S. antitrust regulators sued to block Omnicare's bid to buy rival PharMerica Corp, saying the combination would harm competition and allow Omnicare to raise the price of drugs for Medicare Part D consumers.
Omnicare and PharMerica are the top two companies in the long-term pharmacy services sector, which provide drugs and other goods to nursing homes, assisted-living centers, and other long-term care facilities, the Federal Trade Commission said.
'If Omnicare is allowed to purchase its biggest and only national competitor, it will diminish competition and raise health care costs - leaving taxpayers and patients to foot the bill,' Richard Feinstein, director of the FTC's Bureau of Competition, said in a statement. 'The Bureau will continue to be vigilant in our efforts to prevent these sorts of anticompetitive deals.'
Omnicare made its $441 million hostile offer for PharMerica last year.
The two companies have 250 pharmacies nationwide, according to the trade group Long Term Care Pharmacy Alliance.
(Reporting By Diane Bartz; Editing by Gary Hill and Tim Dobbyn) Keywords: OMNICARE/
(Diane.Bartz@thomsonreuters.com)(1 202 898 8313)
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