Omnicare Sued by FTC to Block Takeover of Rival PharMerica

Omnicare Inc. was sued by the U.S. Federal Trade Commission to block its $440.8 million takeover of rival drug-supply company PharMerica Corp., a deal that regulators said would hurt competition and increase drug prices.

Omnicare’s unsolicited bid for the Louisville, Kentucky, company would boost medicine prices for Medicare Part D health plans that are responsible for providing drug benefits for nursing home residents and other beneficiaries, the FTC said in a statement today.