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)