GSK Offers Concessions on Pfizer JV to Quell EU Antitrust Fears

Date : 06/20/2019 @ 11:53AM
Source : Dow Jones News
Stock : GlaxoSmithKline PLC (GSK)
Quote : 41.32  0.19 (0.46%) @ 9:35PM

GSK Offers Concessions on Pfizer JV to Quell EU Antitrust Fears

Glaxosmithkline (LSE:GSK)
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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.

 

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

 

(END) Dow Jones Newswires

June 20, 2019 06:38 ET (10:38 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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