EU Commission clears planned acquisition of Solvay Pharma by Abbott, subject to divestiture of cystic fibrosis interests

This morning the European Commission gave its approval under the European Union Merger Regulation the proposed $ 6.4 billion acquisition of Solvay Pharma of Belgium by US health care major Abbott Laboratories, having earlier this year delayed its decision as it extended its antitrust investigation of the deal, which was announced last year (The Pharma Letter January 25).

The decision is conditional on the divestment of the cystic fibrosis testing business of Solvay Pharma's subsidiary Innogenetics in the European Economic Area (EEA). The Commission had concerns that the parties' high combined market shares in the field of cystic fibrosis testing could have harmed competition on the markets. In the light of the commitments, the Commission concluded that the transaction would not significantly impede effective competition in the EEA or any substantial part of it.

No real competition problems in IVD sector