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EU: Acquisition of Perrigo by Mylan cleared

 |  July 29, 2015

The European Commission said on Wednesday it had cleared generic drug maker Mylan’s planned takeover of Ireland-based Perrigo Co.

The Commission said in a statement that the proposed acquisition would not raise competition concerns, because the parties’ activities are largely complementary, Mylan being one of the main European producers of prescribed generic drugs and Perrigo specialised in selling over-the-counter drugs.

Mylan had been at the centre of a three-way takeover battle, with Perrigo having rejected a sweetened $34 billion offer, and Mylan seeking to fend off a takeover by Israel-based Teva Pharmaceutical Industries, the world’s largest generic drug maker.

Full content: Bloomberg

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