Concerns raised over Generika’s acquisition of North Luzon rival

  • 📰 MlaStandard
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 55%

Business News News

Business Business Latest News,Business Business Headlines

Defining the News

The Philippine Competition Commission said it launched an in-depth review of the proposed acquisition by the Generika Drugstore operator of a substantial stake in a Northern Luzon drugstore chain.

AHCHI Pharma Ventures Inc. , operator of Generika Drugstore, and Joleco Resources Inc., operator of St. Joseph Drugstore, notified PCC on Jan. 13, 2024, of the proposed transaction, which would involve Ayala Pharma Ventures acquiring a 49-percent stake in Joleco Resources. An initial data-gathering by PCC Mergers and Acquisitions Office under its phase 1 review pointed to potential competition concerns in the retail sale of pharmaceutical and non-pharmaceutical products across 28 localities in Northern Luzon.Given the above, the MAO recommended opening a phase 2 review, which entails conducting a more detailed and extensive assessment on whether the transaction may lead to a substantial lessening of competition in the relevant markets.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 20. in BUSİNESS

Business Business Latest News, Business Business Headlines