On 13 August 2008, the US Federal Trade Commission (FTC) announced that it has challenged Sun Pharmaceutical Ltd.'s (Sun) proposed acquisition of Taro Pharmaceutical Industries Ltd. (Taro), alleging that it would substantially lessen competition in three generic pharmaceutical markets in violation of US federal antitrust laws. The FTC simultaneously announced that it has accepted a proposed consent decree to settle its charges and allow the transaction to proceed, provided that the parties divest the rights and assets needed to develop three pharmaceutical products involving generic carbamazepine.