EU approves Eli Lilly’s $5.4b bid for Novartis division
Bloc’s executive commission says sale won’t hinder competition as the new entity will still face a strong field of competitors
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Brussels: The European Union’s antitrust authority says it has approved the $5.4 billion (Dh19.83 billion) sale of Novartis’ animal health division to US pharmaceutical firm Eli Lilly.
The 28-nation bloc’s executive Commission said Friday the sale won’t hinder competition because the merged firm will continue to face a number of strong competitors.
Switzerland-based Novartis AG in April launched a major overhaul of its business which included the sale of the animal health division.
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