Mazie K. Hirono
U.S. senators seek review of proposed Valeant buyout of Allergan

Seven U.S. senators have asked the Justice Department and Federal Trade Commission to review the proposed acquisition of Botox maker Allergan Inc. by a Canadian company, saying the deal could increase consumer pricing and curtail the development of new drugs. Valeant Pharmaceuticals International Inc. has offered about $53 billion in cash and stock for Allergan and said it would reduce the amount of money the Irvine company spends on research and development of new drugs. Sen. Dianne Feinstein (D-Calif.) and six other senators said they want the two agencies to investigate whether the merger would have a negative effect on U.S. consumers. The letter was also signed by Sen. Chris Coons...