EU Approves Mylan's $7.2 Billion Acquisition of Meda
July 20 2016 - 12:20PM
Dow Jones News
BRUSSELS—European Union competition regulators on Wednesday
approved Dutch drugmaker Mylan NV's roughly $7.2 billion
acquisition of its Swedish rival Meda on the condition the
newly-merged company sheds businesses in around a dozen European
countries.
Mylan offered to divest either its own or Meda's local
businesses in various European countries, including the U.K.,
Belgium, Ireland and Italy, where the EU found insufficient
alternatives on the market, the European Commission said.
The European Commission said it initially had concerns the deal
would shrink competition in markets for several pharmaceutical
products but that the commitments offered by Mylan addressed those
concerns.
In February, Mylan said it had agreed to buy Meda in a bid to
build Mylan's portfolio of specialty generic and over-the-counter
products. The acquisition will also give Mylan access to new
markets like China, Russia and the Middle East.
Write to Natalia Drozdiak at natalia.drozdiak@wsj.com
(END) Dow Jones Newswires
July 20, 2016 12:05 ET (16:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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