CCI gives nod to Mylan Laboratories,Unichem Laboratories deal

In its order dated June 6,the CCI said that,The combination is not likely to have an appreciable adverse effect on competition in India and therefore,the Commission hereby approves the combination under8230;the Competition Act.

It observed that the proposed acquisition by Mylan was with the intent to export products to be manufactured at the said facility.

Further,the regulator noted that the deal would not affect any market in India as Mylan is neither acquiring any shares,voting rights or control in Unichem nor any brands or intellectual property rights from Unichem.

As per details in the order,Mylan has 11 manufacturing facilities in India,of which 8 facilities are for manufacture of Active Pharmaceutical Ingredients API and two are for making FDFs.

Unichem is said to have seven manufacturing facilities in India,of which two facilities are for manufacture of APIs and five are for FDFs which form the core of its business.

Following the execution of the agreement between Mylan and Unichem on March 11,2013,Mylan had approached CCI for its approval in April.