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Cooper Consumer Health gains conditional EU nod to buy Viatris' assets
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Cooper Consumer Health gains conditional EU nod to buy Viatris' assets
Jun 26, 2024 7:57 AM

BRUSSELS, June 26 (Reuters) - France-based Cooper

Consumer Health on Wednesday secured EU antitrust approval to

buy U.S. drugmaker Viatris' ( VTRS ) European over-the-counter

drug business after agreeing to sell its rights and interests in

an infant laxative medicine and earwax removal product.

The companies announced the $3.6 billion deal last October,

with Viatris ( VTRS ) selling some of its businesses to focus on

ophthalmology, gastroenterology and dermatology.

The European Commission, which acts as the EU competition

enforcer, said Cooper's concessions came after it voiced

concerns about the high combined market shares as a result of

the deal and also insufficient competitive pressure from rivals.

Cooper will divest its rights, title and interests in its

infant laxative medicine Bebegel and its rights, title and

interests in its earwax removal product Otowaxol to address the

Commission's competition concerns, the EU watchdog said.

"The remedies offered by Viatris ( VTRS ) and Cooper will ensure

that competition on these markets remains effective and that,

ultimately, consumers in Portugal and Germany do not end up

paying higher prices for certain pharmaceutical products," EU

antitrust chief Margrethe Vestager said.

Viatris ( VTRS ) was formed through the merger of Mylan and Pfizer

Inc's Upjohn business and deals with generic and key

branded drugs in its portfolio, including arthritis treatment

Celebrex, erectile dysfunction drug Viagra, epilepsy treatment

Lyrica, and antidepressant Zoloft.

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