CORRECTED - Polish watchdog clears Richter buy of Polpharma

(Correct Krka's home country in third paragraph to Slovenia from Croatia)

WARSAW, July 4 (Reuters) - Poland's competition authority cleared the purchase of generic drug maker Polpharma by Hungary's Richter Gedeon GDRB.BU on Friday, paving way for the creation of central Europe's top pharmaceuticals group.

Richter agreed to buy Polpharma, Poland's leading maker of generic drugs, and an 81 percent stake in Russia's OAO Akrikhin for about $1.7 billion in November from Genefar BV.

After completing the transactions, Richter will become the region's biggest drug company, ahead of Slovenia's Krka (KRKG.LJ: Quote, Profile, Research) and Czech Zentiva (ZNTVsp.PR: Quote, Profile, Research).

"The combination will not significantly limit competition, especially through the creation or strengthening of a market dominating position," the Polish regulator said.

Richter shares slipped 0.6 percent in early Friday trade. (Reporting by Chris Borowski; Editing by Quentin Bryar)