The Chinese MOFCOM imposes conditions on a merger in the pharmaceutical industry (Novartis / Alcon)

After a four-month review, on 13 August 2010, China's Ministry of Commerce (“MOFCOM”) authorized Novartis‘ acquisition of Alcon subject to conditions. Taking different approaches than one would see in the U.S. or European Union, MOFCOM's decision is notable for the demanding view it takes of transactions involving a combination of large and small market shares and for the nature of the remedy imposed. I. Background This is MOFCOM's seventh published merger control decision under the Anti-Monopoly Law (“AML”). These include six conditional approvals and one prohibition (Coca Cola/Huiyuan). MOFCOM is required to publish only rejection or conditional approval decisions, and it has reviewed many transactions beyond these seven. The decision was announced the day after MOFCOM held a press

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Auteurs

  • Jones Day (Beijing)
  • Gibson Dunn (Hong Kong)
  • Jones Day (Beijing)
  • Winston & Strawn (New York)

Citation

Peter J. Wang, Sébastien J. Evrard, Yizhe Zhang, Stephen Harris, The Chinese MOFCOM imposes conditions on a merger in the pharmaceutical industry (Novartis / Alcon), 13 août 2010, e-Competitions August 2010, Art. N° 33660

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