European Commission - Daily News
Brussels, 24 February 2016
The European Commission has approved under the EU Merger Regulation the creation of a joint venture between Aventis Inc., a subsidiary of Sanofi S.A. of France, and Verily Life Sciences LLC, a subsidiary of Alphabet Inc. of the United States, the holding company of Google Inc.
Sanofi is a global pharmaceutical group and offers, amongst others, a range of solutions for the treatment of diabetes. Verily Life Sciences is active in life sciences. The joint venture will offer services for the management and treatment of diabetes. In addition, the joint venture may commercialise certain products, such as specialised continuous glucose monitoring devices, insulin pumps and insulin.
The Commission concluded that the proposed transaction would raise no competition concerns, in particular since the joint venture's products are not yet commercialised and a number of competitors would remain active in the market after the transaction. The present transaction was examined under the normal merger review procedure. More information is available on the Commission's competition website in the public case register under the case number M.7813.
(For more information: Ricardo Cardoso – Tel.: +32 229 80100; Carolina Luna Gordo – Tel.: +32 229 68386)
Source: Europa.eu (Copyright European Commission)