OTTAWA, Aug. 14, 2015 /CNW/ - To address competition concerns in respect of the supply of four pharmaceutical products, the Competition Bureau has reached an agreement with Pfizer Inc. relating to its proposed acquisition of Hospira, Inc.
Under the consent agreement, Pfizer will sell the Canadian assets related to its marketed injectable cytarabine products (used to treat various types of blood cancers), injectable epirubicin products (used to treat a variety of cancerous tumour types) and oral tablet methotrexate products (used to treat certain cancers as well as severe psoriasis and arthritis), as well as Hospira's pipeline injectable voriconazole product (used to treat serious, invasive fungal infections).
Following its review of the proposed transaction, the Bureau concluded that Pfizer's acquisition of Hospira would likely have resulted in a substantial lessening or prevention of competition for the supply of those four pharmaceutical products in Canada. The Bureau is confident that the implementation of this consent agreement will adequately resolve its concerns.
The Commissioner of Competition has the sole discretion to approve one or more buyers for these products and will do so only if he concludes that the buyers will provide effective competition in Canada.
In conducting its review, the Bureau cooperated with a number of its international counterparts, including the United States Federal Trade Commission and the European Commission. The Bureau also conducted interviews with numerous stakeholders, including hospital procurement personnel, provincial and private formularies, group purchasing organizations, medical professionals and competitors.
- Pfizer's global portfolio includes medicines and vaccines, as well as many well-known consumer health care products.
- Hospira is a provider of injectable drugs and infusion technologies.
- Under the Competition Act, the Bureau has a mandate to review mergers to determine whether they are likely to result in a substantial lessening or prevention of competition.
"Pfizer worked cooperatively with the Bureau in order to resolve the Bureau's competition concerns. I am satisfied that this agreement will ensure that competition is preserved in the supply of these important therapies."
Senior Deputy Commissioner, Mergers and Monopolistic Practices Branch
Position statement: Competition Bureau statement regarding Pfizer's acquisition of Hospira
A copy of the consent agreement will be available shortly on the Competition Tribunal website.
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The Competition Bureau, as an independent law enforcement agency, ensures that Canadian businesses and consumers prosper in a competitive and innovative marketplace.
SOURCE Competition Bureau
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