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.