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Australia: GSK-Pfizer deal gets approval

By  |  May 9, 2019

GlaxoSmithKline’s deal to buy Pfizer’s consumer healthcare business will not lesson competition in Australia, the country’s anti-trust regulator said on Thursday as it approved the deal.

The two pharmaceutical giants in December said they would combine their consumer health businesses in a joint venture that would be 68 percent-owned by GSK, reported Reuters.

The Australian Competition and Consumer Commission (ACCC) said products produced and sold by GSK and Pfizer in Australia would face strong competition from other players.

“Also, the combined businesses would continue to face competition from the range of generic options available to consumers … and are usually much cheaper,” ACCC Commissioner Roger Featherston said in a statement.

Full Content: Reuters

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