India: Sanofi and Boehringer Ingelheim seek CCI’s clearance for $25bn deal

Sanofi and Boehringer Ingelheim, drug giants from Europe, have sought for local regulatory clearances from the Competition Commission of India, so that it can complete the global asset swap deal worth $25 billion, which was recently announced.

Once completed, the $41 billion France-based Sanofi will be taking over BI’s worldwide consumer healthcare business, excluding China. In return, Sanofi will transfer its global animal healthcare business Merial to the pharmaceutical group based in Ingelheim, Germany.

The companies filed their applications to CCI late last week, stating that their mutual transfers, of both the consumer healthcare business and the animal health business, will not considerably put an unfavourable effect on the competition that exists in any of the potential relevant markets in the country.

Now it’s up to the commission to review if this swapping will cause any undesirable impact on the competition in India, a market where both these companies have been progressively growing their businesses over the last few years.

Full Content: Business Insider

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