COMMISSIONER MOSCOVICI IN BERLIN
Commissioner Moscovici travels to Berlin this morning where he contributes to a panel discussion entitled “The Compact with Africa: Opportunities for long-term stability and growth” at the G20 Africa Partnership Conference which takes place today and tomorrow. This G20 initiative aims to support a reliable financial framework in order to increase investment opportunities, push for a more sustainable infrastructure as well as create jobs and employment in African countries, thereby contributing to the African Union Agenda 2063. While in Berlin, the Commissioner will also have meetings with Mr Sigmar Gabriel, Federal minister for Foreign Affairs and Vice-Chancellor of Germany and with Mr Martin Schulz, President of the Social Democratic Party.
MERGERS: COMMISSION OPENS IN-DEPTH INVESTIGATION INTO QUALCOMM’S PROPOSED ACQUISITION OF NXP
The European Commission has opened an in-depth investigation to assess the proposed acquisition of NXP by Qualcomm under the EU Merger Regulation. The Commission has concerns that the transaction could lead to higher prices, less choice and reduced innovation in the semiconductor industry. The Commission’s initial market investigation raised several issues relating in particular to semiconductors used in mobile devices, such as smartphones, and in the automotive industry. Commissioner Margrethe Vestager, in charge of competition policy, said: “We use our electronic devices every day – mobile phones or tablets. As semiconductors are used in practically every electronic device, we are dependent on them in those devices. With this investigation, we want to ensure that consumers will continue to benefit from secure and innovative products at competitive prices.” The transaction was notified to the Commission on 28 April 2017. The Commission now has 90 working days, until 17 October 2017, to take a decision. The full press release is available online in here
MERGERS: COMMISSION APPROVES ACQUISITION OF ACTELION BY JOHNSON & JOHNSON, SUBJECT TO CONDITIONS
The European Commission has approved under the EU Merger Regulation the proposed acquisition of Actelion Pharmaceuticals by Johnson & Johnson. Johnson & Johnson and Actelion both develop and sell innovative pharmaceutical products. The Commission’s investigation focused on two areas where the medicinal products and research programmes of the two companies compete: (i) treatments for multiple sclerosis; and (ii) treatments for insomnia. The decision is subject to conditions ensuring that clinical development of their innovative insomnia drugs will not be adversely affected by the merger. Commissioner Margrethe Vestager, responsible for competition policy commented: “Effective competition is important to stimulate research and development of innovative drugs, to the benefit of patients and our healthcare systems. Our decision makes sure that the development of innovative insomnia drugs will continue following the Johnson & Johnson and Actelion merger”. The full press release is available online in here
NEWS IN FULL
DAILY NEWS 12 – 06 -2017