The Competition Commission of India will demand changes to the proposed merger between Sun Pharma and Ranbaxy, two pharmaceutical giants set to combine for $3.2 billion.
CCI chairwoman Ashok Chawla said Friday that the authority has asked the pharmaceutical companies to alter their agreement after the CCI found the deal could harm competition. Specifically, reports say the CCI is concerned the deal would lead to higher generic drug costs.
Chawla said a final ruling will be made by the end of the month, but a spokesperson for Sun said that due to “concerns by the competition regulators,” the deal’s closing could possibly be delayed until after the new year.
The Sun/Ranbaxy deal has faced particular scrutiny in India, where it would create its largest pharmaceutical company, and the fifth-largest generics manufacturer in the world.
Full content: Wall Street Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
ConocoPhillips Acquires Marathon Oil for $22.5 Billion in Major Energy Sector Consolidation
May 29, 2024 by
CPI
Judge Denies Amazon’s Bid to Dismiss FTC Lawsuit Over Prime Membership Practices
May 29, 2024 by
CPI
Germany and France Advocate for Major EU Competition Reform
May 29, 2024 by
CPI
Equifax Accused of Monopolizing Employment Verification Market in New Suit
May 29, 2024 by
CPI
Car Battery Makers to Challenge EU Cartel Charges in Brussels
May 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI