The Brazilian Competition Authority requests the submission of a below-threshold transaction between two distributors of pharmaceutical supplies (All Chemistry / SM Empreendimentos)

1. INTRODUCTION During the trial session of September 5, 2018, the Tribunal of the Brazilian Competition Authority (“CADE”) requested the submission of a transaction that did not trigger the mandatory notification thresholds. [1]- [2] In short, the transaction concerns the acquisition of All Chemistry do Brasil (“All Chemistry”) by SM Empreendimentos Farmacêuticos (“SM Empreendimentos”). [3] Both companies operate in distribution sector of pharmaceutical supplies, focusing on chemist’s shop segment. [4] The Reporting-Commissioner based its decision on article 88, paragraph 7, of Law No. 12.529/2011 (the “Brazilian Competition Law”), which allows CADE to request submission of transactions that would not notifiable, within up to one year

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