Acquirer(s)
- Progen Pharmaceuticals Limited
Target(s)
- Avexa Limited
Summary
On 22nd December 2008, Progen Pharmaceuticals Limited and Avexa Limited announced they had signed a Merger Implementation Agreement.Market definition
The parties overlap in the research and development of pharmaceuticals. Neither party currently has a product on-market.The ACCC considered that due to the lack of competition concerns it is not necessary to reach a definitive view on market definition in this matter.
Competition analysis
The ACCC considered that there is no competitive overlap between the pipeline products of the two firms with Progen focusing on developing treatment for cancer and Avexa specialising in the treatment of infectious diseases.Timeline
| Date | Event |
|---|---|
ACCC commenced review under the Merger Review Process Guidelines. |
|
Closing date for submissions from interested parties. |
|
ACCC announced it would not oppose the proposed acquisition. |