The European Union (EU) has approved the proposed acquisition of Hospira by Pfizer, but the approval subjected to conditions, the EU's competition regulator said on Wednesday.

Both companies are US based and active globally in the development and marketing of human pharmaceuticals. The transaction was notified to the EU market regulators on 15 June 2015.

To dispel the doubts that the merged entity would have faced insufficient competitive pressure from the remaining players, with a risk of price rises, the European Commission required Pfizer divesting certain sterile injectable drugs, as well as its infliximab biosimilar drug, which is currently under development.

After the companies had committed fully to remove the overlap between Pfizer and Hospira in all the markets, the EU was therefore able to conclude that the proposed transaction would not raise competition concerns, according to the statement.

"This is not just about keeping prices low for patients and healthcare services. We have also made sure that the merger of Pfizer and Hospira does not stand in the way of the research and development of medication that could have huge benefits for society," said Margrethe Vestager, the European commissioner in charge of competition policy.

Pfizer, based in the United States, is a global research-based biomedical and pharmaceutical company active in discovering, developing, manufacturing, marketing, and selling innovative medicines for humans.

Hospira, also based in the United States, is a global provider of injectable drugs and infusion technologies, with a broad portfolio of generic, branded and biosimilar medicines for humans.

Go to Forum >>0 Comment(s)