American pharmaceutical company Viatris has been fined 7.58 million dirhams by the Moroccan Competition Council for failing to notify the institution of its merger, according to Reuters.
Viatris was formed in 2020 through the merger of Mylan, an American pharmaceutical company with a subsidiary in Morocco, and Upjohn, which handled Pfizer’s generic drug business.
The fine, which represents 2.5% of Viatris’ 2023 revenue, has already been paid to Morocco’s Treasury. Viatris chose not to appeal the decision.
The Competition Council, led by Ahmed Rahhou, also hinted that it could scrutinize other mergers and acquisitions that were not reported to them.
The post Moroccos competition council fines pharmaceutical giant Viatris 7.5 millions dirhams appeared first on HESPRESS English – Morocco News.
No products in the cart.