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Image header Agence Europe
Europe Daily Bulletin No. 8410
Contents Publication in full By article 20 / 37
GENERAL NEWS / (eu) eu/competition

Commission approves acquisition of Pharmacia by Pfizer subject to conditions

Brussels, 27/02/2003 (Agence Europe) - The European Commission has authorised the acquisition of Pharmacia Corporation (Pharmacia) by Pfizer Inc. (Pfizer) which creates the largest pharmaceutical company in the world, with market share of 10% (see EUROPE 7 February p 12). The parties had to make commitments to the Commission before obtaining the green light as the operation raised serious competition concerns in human pharmaceuticals. In the market for Erectile Dysfunction, Pfizer markets the blockbuster drug Viagra and commands a very strong market position - up to almost 100% - across the EEA. Two Pharmacia pipeline products were also halted. On the market of Urinary Incontinence, Pharmacia has an existing product, Detrusitol, for the treatment of over-active bladder. Detrusitol attains high market shares - ranging from 40% to almost 100% in most Member States. Pfizer is not active on this market but has a compound, Darifenacin, which could soon have found its way onto the market but which will now not be sold. In the market for Antihypertensives (of non-herbal origin) Plain in the Netherlands, the new entity would have attained a very strong market position with a significant increment of market share. The operation would have brought the number one and two market operators together, while the remaining competitors would have been very small. The parties have proposed to discontinue selling Ketensin and transfer the rights or assets to the original licensor or to third parties. Finally, with respect to animal health, the parties proposed to divest Pharmacia's product Parkemoxin in Germany.

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