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Schering-Plough and Pfizer Merger Approved
EU - The European Commission has cleared under the EU Merger Regulation the proposed acquisition of certain animal health assets of Schering-Plough by Pfizer, both US pharmaceutical companies.After examining the operation, the Commission concluded that the proposed transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it. Pfizer is a global healthcare company, active in human and animal health products.
The Schering-Plough products comprise a broad range for both companion and farm animals including various vaccines, speciality pharmaceuticals and parasiticides.
Schering-Plough is pursuing the sale of these assets following commitments it made in the context of the European Commission's investigation of its acquisition of Organon BS. The overlaps between the activities of Pfizer and the Schering-Plough products are limited in most markets, the Commission said.
The Commission's examination of the proposed transaction showed that the new entity would continue to face several significant competitors in all the relevant markets for animal vaccines and pharmaceuticals and that farmers and veterinarians across the EEA would continue to have access to alternative suppliers post-merger. The Commission concluded that the creation of the new entity would not give rise to any competition concerns in the markets concerned.
A spokesman for Schering-Plough said: "Pfizer will acquire products from Schering-Plough’s parasiticide, swine E. coli vaccine, ruminant clostridia vaccine, equine influenza vaccine, ruminant neonatal vaccine, anti-inflammatory, companion animal/insulin and companion animal/euthanasia, and rabies vaccine franchises."
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