Aspen will acquire the rights to sell, promote and distribute 23 products from the Lilly pharmaceutical portfolio.
The Commission has recommended that the Tribunal unconditionally approve the proposed transaction whereby Aspen Pharmacare intends to acquire the promotion, sales and distribution rights relating to 23 pharmaceutical products supplied in South Africa, by Lilly SA (the “Lilly Portfolio”).
The primary acquiring firm is Aspen Pharmacare. Aspen Pharmacare is a wholly owned subsidiary of Aspen Pharmacare Holdings Limited (“Aspen Holdings”). Aspen Holdings is not controlled by any firm as its shares are widely held. Aspen Pharmacare, all the firms it controls, all the firms controlling Aspen Pharmacare, and all the firms controlled by those firms, will be referred to as the “Acquiring Group”.
The Acquiring Group is a global speciality and branded multinational pharmaceutical company which focuses on manufacturing, marketing and distribution of a broad range of post-patent (i.e. generic), branded medicines and domestic brands covering both hospital and consumer markets.
The primary target firm is the Lilly Portfolio. The Lilly Portfolio is comprised of the promotion, sales and distribution rights relating to the 23 pharmaceutical products. The Lilly Portfolio also includes 46 employees who are involved in the sales, marketing and distribution of the Lilly Portfolio in South Africa. The merging parties both supply, amongst others, antidepressants (used to treat anxiety and depression) and antimetabolites (used to treat leukaemia and various types of cancer).
“Lilly remains committed to delivering our breakthrough innovations to patients in South Africa and Sub-Saharan Africa, and we will continue to pursue initiatives as part of Lilly's 30×30 program, which aims to improve access to quality healthcare for 30 million people living in limited-resource settings, annually, by 2030,”
Cesar Buendia, General Manager for Lilly SASSA, said.
The Commission found that the proposed transaction is unlikely to result in substantial prevention or lessening of competition in any relevant markets. The Commission further found that the proposed transaction does not raise any substantial public interest concerns.
Source: Compcom.co.za
