EU Approves P&G Takeover of Teva Drugs Division

In March the companies announced the acquisition covering pain-relief and other products with sales of around a billion dollars.

The European Commission gave its green light on Sept. 30 to the takeover by Procter & Gamble of the 'over-the-counter' division of Israeli drugmaker Teva.

Anti-trust inspectors "concluded that the proposed transaction would not raise competition concerns, because the merged entity would continue to face sufficient competition in the markets concerned," Brussels said.

The companies announced in March the tie-up covering pain-relief and other products with sales of around a billion dollars.

Copyright Agence France-Presse, 2011

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