Brazil Clears Sanofi's $635M Medley Pharma Buy

Law360, New York (May 20, 2010, 12:58 PM EDT) -- Brazil's antitrust enforcer has given its blessing to Sanofi-Aventis SA's €500 million ($635 million) acquisition of Medley Pharmaceuticals Ltd., provided the Brazilian drug company gives up rights to three of its branded drugs.

Medley will have to sell off gastrointestinal treatments Digedrat and Peridal and vascular treatment Lopigrel in order to preserve competition in the country's pharmaceutical industry, Brazil's Administrative Council for Economic Defense, or CADE, said Wednesday.

Without the divestitures, the newly merged drugmaker would have a 54 percent share of the market for gastrointestinal...
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