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News> Pharmaceutical

Australian Competition and Consumer Commission clears Arrow and Apotex merger: S

Tiffany

2018-10-10

Strides Pharma Science has said that the Australian Competition and Consumer Commission (ACCC) has deci-ded 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 Pharma-ceuticals and Apotex Australia into a new company.

Welcoming the ACCC’s decision to clear the merger of Arrow Pharmaceuticals and Apotex Australia,” Strides Shasun said in a stock market 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”.

Source: Echemi
Disclaimer: Echemi reserves the right of final explanation and revision for all the information.

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