PCC allows GSK’s takeover of Pfizer’s vitamins, painkillers production
A joint venture between two global pharmaceutical colossus won’t sicken the market, the Philippine Competition Commission (PCC) said.
The antitrust body approved the plan of GlaxoSmithKline Consumer Healthcare Holdings, Ltd. to acquire its rival Pfizer Inc.’s over-the-counter drug production unit.
PCC, which took two months review the takeover plan, declared that it saw no major issues on GSK’s takeover plan.
“In a Commission Decision dated June 27, the PCC cleared the transaction based on the finding that it is not likely to lead to substantial lessening of competition in the relevant markets of pediatric and adult cough medicines; pediatric painkillers; and vitamins,” the PCC said in a statement.
The match-ups are as follows (GSK vs Pfizer brands):
– adult cough medicines: Ambrolex, Sinecod / Robitussin, Loviscol;
– children’s cough medicines: Ambrolex, Sinecod Syrup / Robikids, Loviscal Syrup;
– children’s painkillers: Calpol and Voltaren / Advil Suspension for kids;
– children’s vitamins: Scott’s Vitamins / Children’s Clusivol.
There were no worries even if they don’t compete against each other anymore — after all, there’s brand loyalty among clients, and there are many other market players that will keep the segment buoyant, the PCC added.