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.
What Is Your Risk Tolerance?
Answer the question "What type of investor am I?".View Course »