THE Australian Competition and Consumer Commission (ACCC) has launched a review of the merger between Arrow Pharmaceuticals and Apotex (PD 09 May).
The ACCC noted that the companies propose to merge their businesses in Australia and New Zealand, with both being importers and distributors of prescription and over the counter pharmaceuticals.
"The ACCC is waiting for further information from Arrow and Apotex and expects it will commence a public review of the proposed merger once it has received this information," according to an update on the ACCC website.
The deal will create Australia's largest generics business by both volume and revenue, with an estimated 50% market share.
When announced a month ago the companies said the move "aims to create a sustainable platform for future growth and development".
The deal is anticipated to be completed in the new financial year, subject to several conditions including due diligence and ACCC approval.
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