Cade approves purchase of Takeda's portfolio of medicines by Hypera with restrictions

Cade approves purchase of Takeda's portfolio of medicines by Hypera with restrictions
Photo: 20.01.2021 299

Administrative Council for Economic Defense approved the acquisition of a set of medicines from Takeda Pharmaceuticals International by Hypera on the 20t of January. The deal involves the holding and commercialization, by Hypera, of product lines such as Dramin, Nebacetin, Neosaldina, Eparema, Xantinon, Nenê-Dent, Albocresil, Venalot, Ad-Til, Alektos and Nesina. The endorsement of the operation was conditioned to the signing of an agreement, which removes competitive concerns. 

Hypera is a Brazilian pharmaceutical company, present in all relevant segments of the sector, which is organized into three business units: prescription drugs, under the brand name Mantecorp Farmasa; consumer products for health care, which includes non-prescription medications and the nutritional / vitamin supplement segments; and similar and generic medicines, through the Neo Química brand. 

Takeda is a global biopharmaceutical company, headquartered in Japan, which focuses its research and development efforts on four therapeutic areas: oncology, rare diseases, neuroscience and gastroenterology. The Takeda Company also makes targeted investments in R&D for plasma-derived therapies and vaccines. 

The operation will be structured through the acquisition, by Hypera, of the totality of the shares of a new company to be incorporated in the country, which, when the deal is closed, will hold the target product lines of the brand, as well as tangible and intangible assets, previously owned by Takeda, its subsidiaries or affiliates. 

In an analysis of the case, the rapporteur of the operation, counsellor Paula Azevedo, concluded that the exercise of market power would be unlikely in all segments of the operation, given the presence of relevant national players, with conditions to meet possible deviations from demand, the strong presence of similar and generic drugs, among other factors. 

Furthermore, she considered in her vote that the remedies proposed by the companies in the Merger Control Agreement would be sufficient and adequate to remove the identified competitive concerns. 

In the proposal submitted to CADE, the companies undertook to sell the Xantinon and Xantinon Complex products, belonging to Takeda, and all intangible assets, such as intellectual property, health records and know-how necessary for the manufacturing process. The measure was adopted to eliminate competitive concerns in the market for hepatoprotective and lipotropic drugs, which presented risks resulting from companies' high joint participation in the post-operation scenario. The sale of the products was already carried out and approved by CADE in October last year. 

"I understand that the Merger Control Agreement proposed by the applicants is in accordance with the guidelines pointed out by the SG, in addition to being duly appropriate to the recommendations of the Antitrust Remedy Guide, which is why I believe it is adequate, sufficient and effective to end the competitive problems arising from this operation", concluded the counsellor. The position was followed unanimously.

pharmaceutical markets  Brazil 

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