On Wednesday 26 June, the European Commission announced that it had approved, subject to certain conditions, the proposed acquisition of the European OTC business of Viatris Inc., which includes personal care pharmaceutical products, by CVC’s Cooper Consumer Health S.A.S..
Following its preliminary investigation, the European Commission concluded that the acquisition, as initially notified, would have reduced competition in the market for certain pharmaceutical products.
In order to address these concerns, the parties have proposed that Cooper undertakes to divest its rights, title and interest in its laxative for infants, Bebegel. This undertaking includes the transfer of the rights to develop and manufacture Bebegel and to market it in Portugal or France, at the purchaser’s choice.
In addition, the parties have agreed to assign for sale Cooper’s rights, title and interest in its Otowaxol ear wax extraction product, including the right to develop and manufacture Otowaxol in both Germany and Ireland.
The European Commission is of the opinion that the transaction, as modified by these two sets of undertakings, would no longer raise any competition concerns. (Original version in French by Émilie Vanderhulst)