EU Clears GSK-Pfizer Joint Venture With Conditions

Law360 (July 10, 2019, 7:47 PM EDT) -- The European Commission said it has approved pharmaceutical giants GlaxoSmithKline and Pfizer's multibillion-dollar joint consumer health care venture, if Pfizer sells off its topical pain management business under its ThermaCare brand.

Both GlaxoSmithKline PLC and Pfizer Inc. are active in Europe's topical pain management markets, which could have led to increased prices if the initial $12.7 billion deal went through as planned, the commission said Tuesday. GSK supplies Volta-branded products including Voltaren, while Pfizer does business under its ThermaCare brand, according to the announcement.

"The Commission was concerned that the acquisition would reduce competition for topical pain management products, possibly resulting in...

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