Australian Competition and Consumer Commission clears Arrow ,Apotex merger: Strides
Strides Pharma Science Thursday said the Australian Competition and Consumer Commission (ACCC) has decided not to oppose the merger of generic pharma companies Arrow and Apotex, after finding the transaction would not substantially lessen competition in any market . In May 2018, Strides Pharma Science Ltd, which runs its business under the Arrow brand in Australia, and Canada's Apotex Inc., announced their intention to merge Arrow Pharmaceuticals and Apotex Australia into a new company.
"Strides and Apotex today welcomed the ACCC's decision to clear the merger of Arrow Pharmaceuticals and Apotex Australia," Strides Shasun said in a BSE filing.
"Combined, they will supply around half the market for generic prescription pharmaceuticals to pharmacies in Australia. However, after market inquiries and analysis of documents and data, the ACCC considers that the transaction will not substantially lessen competition in any market," it added.
"Strides and Apotex today welcomed the ACCC's decision to clear the merger of Arrow Pharmaceuticals and Apotex Australia," Strides Shasun said in a BSE filing.
"Combined, they will supply around half the market for generic prescription pharmaceuticals to pharmacies in Australia. However, after market inquiries and analysis of documents and data, the ACCC considers that the transaction will not substantially lessen competition in any market," it added.
ACCCApotex AustraliaAustralian Competition and Consumer Commissionpharma companypharma sciencepharmacies in AustraliaStrides Pharma Science
Source : PTIMedical Dialogues Bureau consists of a team of passionate medical/scientific writers, led by doctors and healthcare researchers. Our team efforts to bring you updated and timely news about the important happenings of the medical and healthcare sector. Our editorial team can be reached at editorial@medicaldialogues.in. Check out more about our bureau/team here
Next Story
NO DATA FOUND
Disclaimer: This site is primarily intended for healthcare professionals. Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement or prescription. Use of this site is subject to our terms of use, privacy policy, advertisement policy. © 2020 Minerva Medical Treatment Pvt Ltd