Press Release: Mergers: Commission clears the acquisition of Hexal by Novartis, subject to conditions

The European Commission on 27 May 2005 cleared under the EU Merger Regulation the proposed acquisition of Hexal, a German producer of generic medicines, and its US sister company Eon Labs, by Swiss pharmaceuticals company Novartis, in a deal which created the largest European producer of generics. The Commission's clearance was subject to a number of conditions intended to safeguard competition in areas where the transaction raised competition concerns. To remedy these concerns, Novartis committed itself to sell off specific pharmaceutical products in Poland, Germany and Denmark.