Acquisitions by pharmaceutical companies Adamed and Cephalon have both been approved by UOKiK, Poland's Competition Authority.
Adamed was cleared to acquire over 85% of Polfa Pabianice's share capital (and, with it, control) from Polski Holding Farmaceutyczny S.A., controlled by the State Treasury. Both Adamed and Polfa Pabianice manufacture and sell pharmaceuticals. The acquisition enables Adamed to strengthen its production and research capabilities and extend its product range to include over-the-counter (non-prescription) medicines.
US company Cephalon Inc. has been cleared to take over control of Swiss company Mepha. Until now Cephalon had a subsidiary in Poland responsible for marketing its products and Mepha had no depending unit in Poland.
Polish competition law requires UOKiK to be notified of an intended merger where the combined turnover of the merging parties in the preceding financial year exceeds €1 billion worldwide or €50 million in Poland.
This article was written for Law-Now, CMS Cameron McKenna's free online information service. To register for Law-Now, please go to www.law-now.com/law-now/mondaq
Law-Now information is for general purposes and guidance only. The information and opinions expressed in all Law-Now articles are not necessarily comprehensive and do not purport to give professional or legal advice. All Law-Now information relates to circumstances prevailing at the date of its original publication and may not have been updated to reflect subsequent developments.
The original publication date for this article was 06/04/2010.
