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
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile Faces Class-Action Lawsuit Over Sprint Merger After Appeal Denied
May 16, 2024 by
CPI
Google Faces Backlash Over Introduction of AI-Generated Summaries in Searches
May 16, 2024 by
CPI
CMA Launches Phase 2 Probe into AlphaTheta’s Acquisition of Serato
May 16, 2024 by
CPI
NFL Executive Escapes Testifying in High-Stakes Trial Over Televised Games
May 16, 2024 by
CPI
EU Consumers Lodge Complaint Against Chinese Retailer Temu Over Content Rules Breach
May 16, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI