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Wholesale pharmaceutical businesses given clearance to merge

Wholesale pharmaceutical businesses given clearance to merge


The Commerce Commission has granted clearance to CDC Pharmaceuticals Limited (CDC) and Pharmacy Wholesalers (Central) Limited (PWL Central) to merge their respective businesses.

Currently, CDC and PWL Central wholesale a range of prescription and over-the-counter pharmaceutical products to pharmacies as well as some hospitals.

“The Commission is satisfied that the proposed acquisition will not have, or would not be likely to have, the effect of substantially lessening competition in any market in New Zealand,” said Commerce Commission Chairman Dr Mark Berry.

CDC and PWL Central are co-operative companies owned by their customers. All existing shareholders would become shareholders in the merged entity. “In this instance, the Commission considers that the merged entity is unlikely to have an incentive to raise prices to its own shareholding customers,” said Dr Berry.

“In addition, CDC and PWL Central primarily operate in different parts of the country so there is limited direct overlap in their operations. In all the regions where the merged entity would operate, it would compete against existing suppliers, notably ProPharma,” Dr Berry added.

A public version of the written reasons for the decision will be available shortly on the Clearances register:www.comcom.govt.nz/business-competition/mergers-and-acquisitions/clearances/clearances-register

ends

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