The Australian Competition and Consumer Commission will not oppose the proposed acquisition of the over-the-counter business of F Hoffmann-La Roche by Bayer Healthcare AG, ACCC Chairman, Mr Graeme Samuel, said today.
"Bayer is proposing to acquire, on a global basis, most of the current Roche consumer health business, including the supply, licensing, marketing, and distribution rights of Roche’s over-the-counter pharmaceutical business", he said.
"Through Australian subsidiaries, both Bayer and Roche produce non-narcotic analgesics, vitamins and minerals, and emollients and protectives.
"The acquisition will lead to only a small increase in Bayer’s market share in the over-the-counter pharmaceutical market in Australia. In addition, the merged entity is likely to face competition from a number of domestic and multinational pharmaceutical companies that are currently active in the Australian market".
The global merger remains conditional on approval from a number of international antitrust authorities who have not yet completed their evaluation. It is expected that the European Commission will rule on 19 November 2004, with other antitrust authorities expected to hand down their decision before the end of the year.