In yet another foreign-to-foreign merger case, the Bulgarian Commission for the Protection of Competition (CPC or the Commission) issued a clearance decision neatly summing up the current state-of-play in terms of competition assessment of the pharmaceutical markets in Bulgaria. Following its offer in the spring of 2007 to buy U.S. vaccine maker MedImmune Inc. , (MedImmune), AstraZeneca PLC, through its affiliate AstraZeneca Inc. , (together, AstraZeneca) filed merger notifications in several jurisdictions around the world, including Bulgaria. The CPC starts its assessment by noting that both parties are active on the human medicines market, which presents several specific features: weak correlation between demand and price levels, as well as the fact that usually drugs are
The Bulgarian Competition Authority unconditionally clears a foreign-to-foreign pharmaceutical merger (AstraZeneca / MedImmune)
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