Antitrust Law Daily Wrap Up, ACQUISITIONS & MERGERS NEWS: EC approves Mylan’s acquisition of Abbott Labs’ non-U.S. developed generics business, (Jan 30, 2015)
Organizations Mentioned:Abbott EPD-DM | Abbott Laboratories | Mylan, Inc.
By Jody Coultas, J.D.
The European Commission has approved Mylan, Inc.’s proposed acquisition of Abbott Laboratories' Non-U.S. Developed Markets Specialty and Branded Generics Business ("Abbott EPD-DM").
Mylan is a US-based producer of generic pharmaceuticals. Abbott EPD-DM is a Swiss-based manufacturer that distributes branded ex-originator products with expired patents and with internal production capabilities in Europe, Canada, and Japan.
According to a January 28 announcement, the EC examined the effects of the proposed transaction on competition in five therapeutic areas: (1) cardio-metabolic; (2) gastro; (3) anti-infective/respiratory; (4) central nervous system/pain; and (5) women's and men's health. For five products in certain geographic areas, the EC's market investigation identified competition concerns because of the lack of substitutable products, high combined market shares of the companies on narrow markets, few competitors, and low likelihood of entry.
Mylan offered to divest its local businesses in the concerned markets, including the relevant marketing authorizations, customer information, and supply contracts. In light of the proposed divestment of a number of Mylan's businesses in Germany, the United Kingdom, France, Ireland, and Italy, the transaction no longer raised competition concerns.
Companies: Abbott EPD-DM; Mylan, Inc.
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