The Italian Competition Commission (“ICA”) unconditionally cleared CVC Capital Partners’ (“CVC”) acquisition of Genetic S.p.A. (“Genetic”) on 30 September 2020 in Phase 1. CVC, via Recordati S.p.A., is active in R&D, manufacturing and marketing of pharmaceuticals. CVC is also active, via DFE Pharma, in the upstream market for excipients which are used as an input in the production of pharmaceutical products. Genetic, the target, is active in the R&D, production, packaging and sale of pharmaceuticals, as well as upstream of the value chain in the production of pharmaceutical products for third parties as a contract development manufacturing organization (“CDMO”).
CRA was retained by CVC to provide assistance in relation to competitive assessment of the deal. Further details can be found on the ICA’s website.