"Merger Control: Main developments between 1st January 2003 and 30th April 2003"* The European Commission authorised, subject to conditions, the acquisition of Pharmacia Corporation (Pharmacia) by Pfizer Inc. (Pfizer) in a deal creating the largest pharmaceutical company in the world in terms of sales and R&D spending. The two companies’ activities were considered to be largely complementary. However the operation gave rise to a number of horizontal overlaps in human pharmaceuticals (including existing and pipeline products) and animal healthcare. The approval followed an investigation into a number of treatment areas both in human pharmaceuticals and in animal healthcare, where the transaction raised serious doubts as to the compatibility with the common market. In reaction to
The EU Commission conditionally clears a merger in the pharmaceutical sector creating the largest pharmaceutical company in the world in terms of sales and R&D spending (Pfizer / Pharmacia)
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