merger done Sydney - Wednesday - Oct 26: (RWE Australian Business News) -
The Australian Competition and Consumer Commission today announced it would not oppose the proposed merger between Arrow Pharmaceuticals Ltd
(ASX code: AWP) and Sigma Company Ltd (ASX code: SIG).
"A significant concern was whether the merged company would have an incentive to discriminate against competing generic pharmaceutical manufacturers in its wholesale distribution and pharmacy banner group operations," ACCC chairman Mr Graeme Samuel said today.
"The ACCC decided that this was unlikely, as there was no evidence that Sigma had previously been able to use its wholesaling and banner group operations to discriminate in favour of Sigma pharmaceuticals over those manufactured by its competitors."
Sigma and Arrow also competed to supply pharmaceuticals to a limited range of pharmaceutical markets, in all of which there were several other competitors.
In addition, the ACCC was satisfied the proposed merger would not raise competition concerns at the wholesale distribution level, given Arrow's limited wholesaling operations.
Shares in Sigma today rose 60c to $12.09 and Arrow 13c to $2.59.
merger done Sydney - Wednesday - Oct 26: (RWE Australian...
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