The European Commission has conditionally approved, on Thursday 11 July, the acquisition of Pfizer's Consumer Health Business by GlaxoSmithKline (GSK).
Both GSK and Pfizer's Consumer Health Business are manufacturers and suppliers of a variety of consumer pharmaceutical products active in the European Economic Area (EEA).
GSK notified the Commission of its intention to acquire Pfizer's Consumer Health Business on 17 May 2019. At the end of its initial investigation, the Commission was concerned that the proposed transaction would have a negative impact on competition regarding topical pain management products.
To address these concerns, the companies offered to divest Pfizer's topical pain management business carried out under the ThermaCare brand globally. This includes all relevant assets that contribute to the current operation or are necessary to ensure their viability and competitiveness. These assets will have to be divested as a package to one suitable purchaser to be approved by the Commission.
Considering that these commitments would remove almost entirely the overlaps between GSK and Pfizer's Consumer Health Business in the topical pain management category in the EEA, the Commission concluded that the operation was compatible with EU competition law rules. This is subject to full compliance with these commitments. (Original version in French by Lucas Tripoteau)