CCP opens second phase review on proposed acquisition of vaccines businessNovember 19, 2014
ISLAMABAD: The Competition Commission of Pakistan (CCP) in concluding the first phase review of the pre-merger application of September 19, 2014 for the proposed acquisition by GlaxoSmithKline Plc., (“GSK”) of the vaccines business (excluding Influenza business except in China) from Novartis AG (“Novartis”), had ordered to open a second phase review on November 13, 2014.
Both GSK and Novartis operate in the same relevant product market of meningococcal vaccines through their subsidiaries in Pakistan, where the preliminary examination of the pre-merger application revealed that GSK holds a dominant position, and with the proposed acquisition, GSK will strengthen its dominant position, which may pose competition concerns in the market of meningococcal vaccines in Pakistan.
CCP has opened a second phase review of the proposed acquisition under Section 31(1)(d)(ii) of the Competition Act, 2010 in order to determine whether or not the said acquisition is likely to substantially lessen competition by creating or strengthening a dominant position in the relevant product market in Pakistan.
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