The acquisition will create a large biopharmaceutical company with revenue of more than $4.23 billion and annual research and development investment of $986.91 million. In November, the executive board and supervisory board of Schwarz Pharma recommended acceptance of the offer by UCB to its shareholders.
The US Federal Trade Commission has allowed the waiting period to expire without expressing any concerns. The European Commission cleared the deal even though there were similarities between the two companies because they both produce a small number of over-the-counter and prescription medicines in Europe. The commission commented that the overlaps would not be sufficient to significantly impede effective competition and customers and competitors identified a large number of alternative suppliers.
“Since the announcement on September 25, both companies have enjoyed further positive news flow on developments in their exciting pipelines,” said Roch Doliveux, CEO of UCB.
With this acquisition, UCB will build on its pipeline in inflammation, neurology and oncology.