By Foo Yun Chee
Brussels: Located in France Cooper Consumer Health The EU is safe on Wednesday antitrust approval to buy a US drugmaker Viatris’ The European over-the-counter medicine business has agreed to sell its rights and interests in a infant laxative And earwax removal product,
The two companies announced a $3.6 billion deal last October, under which Viatris sold some of its businesses to focus on ophthalmology, gastroenterology and dermatology.
The European Commissionwho acts as European Union Competition Enforcementsaid Cooper made the concession after it expressed concerns about a high combined market share and insufficient competitive pressure from rivals as a result of the deal.
The EU regulator said Cooper will sell its rights, ownership and interests in its infant laxative medicine Babegel and its rights, ownership and interests in its earwax removal product Otovaxol to address the Commission’s competition concerns.
“The measures introduced by Viatris and Cooper will ensure that competition remains effective in these markets and that, ultimately, consumers in Portugal and Germany do not have to pay higher prices for certain pharmaceutical products,” EU anti-competition chief Margrethe Vestager said.
Viatris was formed through the merger of Mylan and Pfizer Inc’s Upjohn business and operates a portfolio of generic and leading branded drugs, including Celebrex for arthritis treatment, erectile dysfunction drug Viagra, Lyrica for treating epilepsy and antidepressant drug Zoloft. (Reporting by Foo Yun Chee)
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