Cooper Consumer Health obtains conditional EU approval to purchase Viatris assets, ET HealthWorld

By Foo Yun Chee

Brussels: France’s Cooper Consumer Health on Wednesday won approval from the European Union’s antitrust watchdog to buy the European over-the-counter medicines business of US drugmaker Viatris after it agreed to sell its rights and interests in a baby laxative and an ear wax removal product.

The companies announced a $3.6 billion deal last October in which Viatris will sell some of its businesses to focus on ophthalmology, gastroenterology and dermatology.

The European Commission, which serves as the EU’s competition enforcer, said Cooper’s concessions came after it raised concerns about the deal’s high combined market shares as well as insufficient competitive pressure from rivals.

Cooper will divest its rights, title and interest in baby laxative Bebegel and its rights, title and interest in ear wax removal product Otowaxol to address the Commission’s competition concerns, the EU watchdog said.

“The remedies offered by Viatris and Cooper will ensure that competition in these markets remains effective and that ultimately consumers in Portugal and Germany do not pay higher prices for certain pharmaceutical products,” said Margrethe Vestager, the EU’s antitrust chief.

Viatris was formed from the merger of Pfizer Inc.’s Mylan and Upjohn businesses and has a portfolio of generic drugs and key brands, including arthritis drug Celebrex, erectile dysfunction drug Viagra, epilepsy drug Lyrica and antidepressant Zoloft. (Reporting by Foo Yun Chee)

Posted on June 27, 2024 at 12:28 pm EST

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