The European Commission granted antitrust clearance to GlaxoSmithKline’s proposed $3.6-billion takeover of Stiefel, explaining that overlaps between the companies are limited to a number of dermatological products and would not significantly impede competition.

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Regarding the overlapping products, the EC ruled that “the combined firm would continue to face several strong, effective competitors with significant market shares.” The merger of GlaxoSmithKline and Stiefel was approved by the US Federal Trade Commission last month.

Source: FirstWord

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