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27 June 2012

Sayenko Kharenko – legal counsel on obtaining merger clearance for acquisition of certain assets of a branded generics pharmaceutical company

Sayenko Kharenko’s antitrust team has provided legal assistance in merger clearance with the Antimonopoly Committee of Ukraine (the "AMC") for the indirect acquisition of assets relating to the branded generic pharmaceutical business of Gerot Pharmazeutika Gesellshaft m.b.H., Lannacher Heilmittel Ges.m.b.H. and G.L. PharmaGmbH (collectively, "Gerot"), by Valeant Pharmaceuticals International, Inc. ("Valeant"), a holding company of the Valeant group of companies (value of transaction – USD 165 million plus milestone payments of up to USD 20 million, based upon achievement of performance targets.)

The acquisition will enable Valeant to increase its presence on markets of branded generic pharmaceuticals in CIS countries.

Gerot is abranded generics pharmaceutical company based in Austria.

Valeant is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of neurology, dermatology and branded generics. 

After the review of the proposed transaction, the AMC concluded that its implementation neither poses threats to competition nor significantly limits competition on any product market in Ukraine.

Sayenko Kharenko competition team for the current transaction included counsel Dmitry Taranyk and associates Maksym Nazarenko and Olga Ivlyeva, led by partner Vladimir Sayenko.

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