The Competition Commission of India (CCI) has sought public comments on the proposed $4-billion merger deal of Ranbaxy with Sun Pharma after prima facie finding that the deal may have an appreciable adverse effect on competition.
This is the first time the commission has asked for comments from public on any combination or merger and acquisition as provided in the Competition Act under Section 29 (3).
The comments have to submitted to the commission within 15 days, along with supporting documents on how the merger can adversely impact the concerned person or entity and the “unsubstantiated objections” would not be considered.
According to a statement issued by the commission, the two companies have been asked to publish details of the combination within 10 working days for bringing the combination to the knowledge or information of the public and persons affected or likely to be affected by such combination.
Giving out the details in the matter, the competition watchdog said that the two companies have a combined presence in 18 therapeutic areas, 127 therapeutic groups and 246 molecules.