UK competition watchdog blocks Viatris deal pending inquiry

Following its initial investigation into the acquisition by Theramex of certain drug rights held by Viatris (Nasdaq: VTRS), the UK’s antitrust body has said the transaction: “could reduce competition and choice for hormone replacement therapy treatments.”

Unless the parties are able to offer “acceptable undertakings to address these competition concerns,” the Competition and Markets Authority (CMA) said it would begin a more in-depth investigation.

The firms have just five days to respond with “meaningful solutions to the CMA,” to prevent a so-called “phase two” investigation, led by an independent panel of experts and lasting around 24 weeks.