Concert Pharmaceutic
CNCE
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Concert Pharmaceuticals : Announces Termination of the HSR Act Waiting Period for CTP-656 Asset Purchase Agreement with Vertex

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08/03/2017 | 06:53 pm

By a News Reporter-Staff News Editor at Pharma Business Week -- Concert Pharmaceuticals, Inc. (NASDAQ: CNCE) announced that the U.S. Federal Trade Commission ("FTC") has terminated the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) for the pending sale of CTP-656 and other assets related to the treatment of cystic fibrosis by Concert to Vertex Pharmaceuticals, Inc. (NASDAQ: VRTX). CTP-656 is an investigational cystic fibrosis transmembrane conductance regulator (CFTR) potentiator that has the potential to be used as part of future once-daily combination regimens of CFTR modulators that treat the underlying cause of CF (see also Lung Diseases and Conditions - Cystic Fibrosis).

The expiration of the HSR Act waiting period represents the final regulatory closing condition required to complete the asset purchase. On May 24, 2017, Concert shareholders approved the authorization of the CTP-656 asset purchase agreement. The transaction is expected to close in the coming days.

Keywords for this news article include: Concert Pharmaceuticals Inc., Pharmaceutical Companies, Pancreatic Diseases and Conditions, Digestive System Diseases and Conditions, Respiratory Tract Diseases and Conditions, Lung Diseases and Conditions - Cystic Fibrosis.

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