US drugmaker Pfizer has offered concessions in a bid to win European Union regulatory approval for its $15 billion takeover of US rival Hospira, the European Commission said on Tuesday.
The EU competition authority did not provide details of Pfizer’s proposal in line with its policy. It extended the deadline for its decision to August 4 from July 20 to examine the concessions.
It can either clear the deal if it considers Pfizer has allayed competition concerns regarding the deal or open a full-scale investigation.
Pfizer, maker of impotence treatment Viagra and cholesterol drug Lipitor, is making its biggest ever acquisition aimed at expanding its portfolio of generic injectable drugs and copies of biotech medicines.
Full content: Business Insider
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI