EU Approves With Conditions GlaxoSmithKline's Acquisition of Pfizer's Consumer Health Business
July 11 2019 - 5:02AM
Dow Jones News
By Pietro Lombardi
European Union antitrust authorities conditionally approved late
Wednesday the acquisition by GlaxoSmithKline PLC (GSK.LN) of Pfizer
Inc.'s (PFE) consumer health business.
The approval is contingent on the sale of Pfizer's ThermaCare
business, which makes products that cover topical pain
management.
The deal in its original form would have reduced competition for
topical pain management products, and could have caused an increase
in prices in several European countries, including Germany, Italy
and the Netherlands.
"These assets will have to be divested as a package to one
suitable purchaser to be approved by the Commission," the European
Commission said.
The sale of the business removes almost completely the overlap
between the companies' activities in the field, it said.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
July 11, 2019 04:47 ET (08:47 GMT)
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