Notice given by Pfizer, Inc.
Case brief
What is this about?
The Competition Commission of India approved the proposed merger between Pfizer and Hospira. Finding no horizontal overlap and no significant vertical foreclosure concerns, the Commission held the combination would not have an appreciable adverse effect on competition.
What did the court decide?
Approval of the proposed combination under Section 31(1) of the Competition Act, 2002.
What the court decided
Fair Competition For Greater Good
COMPETITION COMMISSION OF INDIA
(Combination Registration No. C-2015/03/255)
11.06.2015
Notice u/s 6 (2) of the Competition Act, 2002 given by Pfizer, Inc.
Order under Section 31(1) of the Competition Act, 2002
- On 09.03.2015, the Competition Commission of India (“ Commission ”) received a notice under sub-section (2) of Section 6 of the Competition Act, 2002 (“ Act ”) given by Pfizer, Inc. (“ Pfizer ” or the “ Acquirer ”). The notice was filed pursuant to the execution of an Agreement and Plan of Merger between Pfizer, Hospira, Inc. (“ Hospira ”) and Perkins Holding Company (“ Perkins ”), a wholly owned subsidiary of Pfizer, on 05.02.2015.
- The proposed combination relates to the acquisition of 100 per cent of the equity share capital of Hospira by Pfizer. The proposed combination is structured as the merger of Perkins with and into Hospira, as a result of which the separate corporate existence of Perkins will cease and Hospira will survive as a wholly owned subsidiary of Pfizer.
- In terms of Regulation 14 of Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 (“ Combination Regulations ”) vide letter dated 11.03.2015, the Acquirer was required to remove certain defect(s) by 16.03.2015, the response to which was received on due date. Further, in terms of Regulation 14 of the Combination Regulations, vide letter dated 25.03.2015, the Acquirer was again required to remove certain defects and provide information/document(s) by 30.03.2015. The Acquirer filed its response through two separate submissions on 16.04.2015 and 29.04.2015 after seeking extension of time. In terms of Regulation 14 of the Combination Regulations, vide letter dated 06.05.2015, the Acquirer was further required to remove certain defects and provide information/document(s), the response to which was received on 15.05.2015. Vide letter dated 20.05.2015, the Acquirer was again required to remove certain defects and provide information/document(s) by 26.05.2015, the response to which was received on 08.06.2015 after seeking extension of time.
Issues for consideration
2 issues framed by the court
Whether the proposed combination between Pfizer and Hospira is likely to cause an appreciable adverse effect on competition in India.
Whether the proposed combination results in any vertical foreclosure in the relevant markets for APIs or formulations.
Parties & counsel
- applicant
Pfizer, Inc.
- other
Hospira, Inc.
Case details
As recorded by the court registry
Similar cases
Judgements on the same questions, provisions and authorities, from every court