The EPP segment of Abbott would be transferred to New Moon BV
The proposed merger of Abbott Laboratories' Established Pharmaceuticals Products (EPP) segment with the Mylan has received green signal from the Competition Commission of India (CCI).
As per the deal, the EPP segment of Abbott would be transferred to the Netherlands-based New Moon BV, a private limited liability company set up by Mylan for the proposed combination.
EPP segment includes branded generics and speciality pharmaceuticals products business of Abbott in Europe, Japan, Australia, New Zealand, and Canada.
"The proposed combination is not likely to have an appreciable adverse effect on competition in India and the horizontal overlap between the pharmaceutical products of Mylan and Abbott in India is insignificant to raise any competition concern in India," CCI said in a statement.