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By Carlo Martuscelli
GlaxoSmithKline PLC (GSK.LN) has offered unspecified concessions to address competition concerns over its proposed healthcare joint venture with Pfizer Inc. (PFE), the European Commission said Thursday.
The EU authority said it will come to a decision on the proposed combination by July 10.
The U.K. pharmaceutical company in December said it planned to create a consumer health-focused joint venture with U.S. drugmaker Pfizer, with the aim of eventually spinning it off.
The plans are being investigated by the EU's competition body to make sure that they don't breach market rules.
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(END) Dow Jones Newswires
June 20, 2019 06:38 ET (10:38 GMT)
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