The Competition Commission of Pakistan (CCP) in concluding the first phase review of the pre-merger application dated 29 August, 2014 for the proposed acquisition by Novartis AG ("Novartis") of the business relating to a portfolio of oncology products (excluding manufacturing) from GlaxoSmithKline Plc. ("GSK"), has ordered to open a second phase review. Both Novartis and GSK operate in the same relevant product market of the oncology business i.e., in the field of Serotinin Antagonist Antimetics and Anti-nausants in Pakistan, where the preliminary examination of the pre-merger application revealed that GSK holds a dominant position, and with the proposed acquisition. Novartis may create a dominant position which may pose competition concerns in the market of Serotinin Antagonist Antimetics and Anti-nausants 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.
The Competition Commission of Pakistan (CCP) in concluding the first phase review of the pre-merger application dated 29 August, 2014 for the proposed acquisition by Novartis AG ("Novartis") of the business relating to a portfolio of oncology products (excluding manufacturing) from GlaxoSmithKline Plc. ("GSK"), has ordered to open a second phase review. Both Novartis and GSK operate in the same relevant product market of the oncology business i.e., in the field of Serotinin Antagonist Antimetics and Anti-nausants in Pakistan, where the preliminary examination of the pre-merger application revealed that GSK holds a dominant position, and with the proposed acquisition. Novartis may create a dominant position which may pose competition concerns in the market of Serotinin Antagonist Antimetics and Anti-nausants 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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