Brazil Conditionally Clears $825M Takeda Drug Divestment

Law360 (January 21, 2021, 8:49 PM EST) -- The Brazilian competition authority said Thursday that it had cleared Hypera Pharma's bid to acquire an $825 million portfolio of over-the-counter and prescription drugs from Osaka, Japan-based Takeda Pharmaceutical Co. Ltd.

The Administrative Council for Economic Defense, or CADE, said it had conditionally approved the transaction, guided by White & Case LLP, during a session Wednesday following the signing of an agreement intended to allay competition concerns.

The antitrust watchdog's Commissioner Paula Azevedo, who was assigned the role of rapporteur, concluded that the remedies proposed by the firms in their merger control agreement would be adequate and efficient to mitigate any...

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