The Australian Competition and Consumer Commission has decided not to oppose the merger of generic pharmaceutical companies, Arrow and Apotex after finding the transaction “would not substantially lessen competition in any market”.
In May 2018, Strides Pharma Science and Apotex announced their intention to merge Arrow Pharmaceuticals and Apotex Australia into a new company – “one that will provide our Australian customers with unparalleled service and support”.
Strides and Apotex this week said they welcomed the ACCC’s decision to clear the merger.
The transaction remains subject to the conclusion of definitive agreements and the satisfaction of certain other conditions, including approval from the Foreign Investment Review Board.
