EU - Mergers: Commission clears Pfizer's proposed acquisition of Wyeth, subject to conditions

The European Commission has approved under the EU Merger Regulation the proposed acquisition of the US pharmaceutical and health care products company Wyeth by the US global pharmaceutical company Pfizer. The approval is conditional upon Pfizer's commitment to divest several types of animal health vaccines, pharmaceuticals and medicinal feed additives in the European Economic Area (EEA) or in specific Member States. The Commission had concerns that the transaction, as originally notified, would have raised competition issues in the field of animal health products on a number of national markets. In the light of the commitments offered by Pfizer, the Commission has now concluded that the proposed transaction would not significantly impede effective competition in the EEA or any substantial part of it.

With respect to animal health, the Commission found that the proposed transaction, as originally notified, would have raised competition concerns in a significant number of national markets for animal health vaccines, pharmaceuticals and medicinal feed additives in a number of Member States where both Pfizer and Wyeth have overlapping product portfolios. In particular, the Commission was concerned that the removal of Wyeth Fort Dodge Animal Health as a competitor to Pfizer would have reduced choice or led to higher prices for customers in those markets.