Viatris fined in Morocco over merger notification, sources say
2024.11.21 10:32
By Ahmed Eljechtimi
RABAT (Reuters) -U.S. pharmaceutical giant Viatris Inc (NASDAQ:). has been fined 7.58 million dirhams ($760,000) by Morocco’s competition regulator for failing to notify it regarding its merger, two official sources said on Thursday.
Viatris was formed by the merger of Mylan, which has a subsidiary in Morocco, and Pfizer (NYSE:)’s Upjohn business in 2020.
The fine, equivalent to 2.5% Viatris’ revenue in Morocco last year, has already been paid to the Moroccan treasury, the sources said, requesting anonymity.
Viatris also declined to appeal the decision, the sources said.
Viatris did not immediately respond to a Reuters emailed request for comment.
The regulator is also planning to look into other mergers in which the companies failed to notify the regulator. These could include a joint venture between the phosphates and fertilizers giant OCP and Fertinagro Biotech and the takeover of Whirlpool (NYSE:) Middle East and North Africa operations by Turkey’s appliances maker Arcelik (IS:), one of the two sources said.
OCP and Arcelik did not immediately respond to Reuters’ requests for comment.
