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Vitaris fined in Morocco over merger notification, sources say
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Vitaris fined in Morocco over merger notification, sources say
Nov 21, 2024 6:37 PM

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 examining other mergers where Moroccan

authorities have not been notified, one of the sources said.

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