US healthcare giant Johnson & Johnson has offered concessions in a bid to address EU antitrust concerns over its $30 billion bid for Swiss biotech company Actelion (ATLN.S), the European Commission said on Thursday.
The EU competition enforcer extended its review of the deal to June 12 from May 24, according to a filing on its website. It did not provide details. Johnson & Johnson put in the offer on Wednesday.
The deal, the biggest in the European pharmaceutical industry in 13 years, would give J&J access to Actelion’s range of high-price, high-margin medicines for rare diseases, helping it diversify its drug portfolio as its biggest product, Remicade for arthritis, faces cheaper competition.
The Commission is expected to seek feedback from consumers and rivals before deciding whether to accept the offer, demand more or open a four-month long investigation.
Full Content: Euro News
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Japan’s Nippon Steel Eyes Year-End Close on $15B US Steel Deal Amid Political Uncertainty
Nov 7, 2024 by
CPI
Canada Orders Dissolution of TikTok’s Business Amid National Security Concerns
Nov 7, 2024 by
CPI
India Raids Amazon, Flipkart Seller Offices in Foreign Investment Probe
Nov 7, 2024 by
CPI
Canada’s Competition Bureau Seeks Public Feedback on Updated Merger Guidelines
Nov 7, 2024 by
CPI
FTC Adopts Stricter Reporting Rules for Mergers, Delays Expected in 2025
Nov 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Remedies Revisited
Oct 30, 2024 by
CPI
Fixing the Fix: Updating Policy on Merger Remedies
Oct 30, 2024 by
CPI
Methodology Matters: The 2017 FTC Remedies Study
Oct 30, 2024 by
CPI
U.S. v. AT&T: Five Lessons for Vertical Merger Enforcement
Oct 30, 2024 by
CPI
The Search for Antitrust Remedies in Tech Leads Beyond Antitrust
Oct 30, 2024 by
CPI