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Viatris fined in Morocco over merger notification, sources say
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Viatris fined in Morocco over merger notification, sources say
Nov 21, 2024 10:13 AM

RABAT, Nov 21 (Reuters) - U.S. pharmaceutical giant

Viatris Inc. ( VTRS ) has been fined 7.58 million dirhams

($760,000) by Morocco's competition regulator for failing to

notify it regarding its merger, two official sources said on

Thursday.

Viatris ( VTRS ) was formed by the merger of Mylan, which has a

subsidiary in Morocco, and Pfizer's ( PFE ) Upjohn business in

2020.

The fine, equivalent to 2.5% Viatris' ( VTRS ) revenue in Morocco

last year, has already been paid to the Moroccan treasury, the

sources said, requesting anonymity.

Viatris ( VTRS ) also declined to appeal the decision, the sources

said.

Viatris ( VTRS ) did not immediately respond to a Reuters emailed

request for comment.

The regulator is also planning to look into other mergers in

which the companies failed to notify the regulator. These could

include a joint venture between the phosphates and fertilizers

giant OCP and Fertinagro Biotech and the takeover of Whirlpool

Middle East and North Africa operations by Turkey's appliances

maker Arcelik, one of the two sources said.

OCP and Arcelik did not immediately respond to Reuters'

requests for comment.

(Reporting by Ahmed Eljechtimi; editing by Jason Neely and Ros

Russell)

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