EC sets new deadline for Zentiva competition review
This article was originally published in Scrip
Executive Summary
The European Commissionhas moved the deadline for the completion of its competition review of Sanofi-Aventis's proposal to buy Zentivafrom January 21st to February 4th. At the end of last year, the EU regulators said that the deal notification was incomplete and asked them to re-notify (Scrip Online, November 12th, 2008). Sanofi-Aventis might have proposed concessions such as the sale of affiliated companies to reduce its potential dominance in one or more countries after the merger. The board of the Czech Republic's largest manufacturer of generic drugs accepted Sanofi-Aventis's proposal to pay €1.8 billion for all ofits shares on September 22nd.