NEW YORK -- The German drug company Bayer AG has received antitrust clearance from the Federal Trade Commission for its approximately $1.1 billion acquisition of Conceptus.
Bayer announced the deal last month, saying that it would help to expand the kinds of birth control it offers.
Mountain View, Calif.-based Conceptus Inc. (CPTS) makes Essure, an irreversible birth control method in which small metal and polyester coils are inserted to block a woman's fallopian tubes. The procedure can be done in 10 minutes in a doctor's office.
Bayer already markets birth control pills and intrauterine devices.
The transaction could be completed by midyear.
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