EU Approves Proposed Genzyme and Sanofi-Aventis Acquisition

iStock_000006963239Medium[1]As reported by The Wall Street Journal, on Wednesday, the European Union (EU) approved the proposed acquisition of the Biotechnology company Genzyme by French Pharmaceutical company, Sanofi-Aventis.

It was concluded by the EU’s executive arm that the acquisition would not have a negative impact on competition in Europe. They stated, “The Commission’s examination has shown that the proposed transaction would not lead to significant combined market shares in the product categories where the parties’ activities overlap.

“In addition, the proposed transaction also does not raise concerns in the treatment of multiple sclerosis, where both parties are developing treatments. In all cases there will remain a sufficient number of other credible competitors.”

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