Mylan Laboratories Inc. will divest assets related to five generic drugs to win clearance from the Federal Trade Commission for its $6.6 billion acquisition of Merck KGaA's generics unit in Germany.

The acquisition, announced in May, would triple Mylan's size and make it a major player overseas. Mylan has said it expects the deal to close Monday.

Both Mylan and Merck produce the five drugs and combining the two companies would have reduced competition and resulted in higher prices for consumers, the FTC said in a statement yesterday.

The companies must divest the assets within 10 days of completing their merger. The drugs include four that treat high blood pressure and one used for irregular heart beats, which Mylan plans to sell to privately held Amneal Pharmaceuticals in Paterson, N.J.

The blood pressure drugs to be divested include acebutolol hydrochloride capsules, guanfacine hydrochloride tablets, nicardipine hydrochloride capsules and sotalol hydrochloride AF tablets. The anti-arrhythmia drug is flecainide acetate.

Executives of Cecil-based Mylan plan to host an investors' conference in New York on Wednesday to outline their strategy for the newly merged company. Online access to the event will be available at www.mylan.com.

Mylan's shares rose 71 cents yesterday, or 4.6 percent, to close at $16.24.