MEXICO CITY Dec 19 Mexico's antitrust body on
Monday said it had made local approval of an asset swap between
French drugmaker Sanofi and Germany's Boehringer
Ingelheim conditional on Sanofi not acquiring its peer's cough
medicines in Mexico.
Mexico's Federal Economic Competition Commission said in a
statement that a proposed merger of Sanofi and Boehringer
Ingelheim assets in Mexico would give Sanofi the capacity to fix
prices or restrict supplies of cough medicines.
The agency said the merger in Mexico would take away leading
cough market seller Sanofi's closest competitor and increase its
market share even more over smaller competitors.
The agency, known as Cofece, said the swap would only be
authorized if Sanofi did not buy three brands of cough medicine,
Bisolvon, Mucosolvan and Sekretovit.
Sanofi's bid for Boehringer's consumer health unit is part
of a $20-billion asset swap, with the German company taking over
its animal health arm, that has already received approval from
European Union antitrust authorities.
(Reporting by Michael O'Boyle; Editing by Cynthia Osterman)