EU regulators to probe Johnson & Johnson's Takeda deal

EU regulators to probe Johnson & Johnson's Takeda deal

EU antitrust regulators opened on Wednesday a full-scale investigation into Johnson & Johnson's buy of Takeda Pharmaceutical Co's surgical patch product TachoSil, saying the deal may hurt competition and innovation.

FILE PHOTO: The company logo for Johnson & Johnson is displayed on a screen to celebrate the 75
FILE PHOTO: The company logo for Johnson & Johnson is displayed on a screen to celebrate the 75th anniversary of the company's listing at the New York Stock Exchange (NYSE) in New York, U.S., September 17, 2019. REUTERS/Brendan McDermid/File Photo

BRUSSELS: EU antitrust regulators opened on Wednesday a full-scale investigation into Johnson & Johnson's buy of Takeda Pharmaceutical Co's surgical patch product TachoSil, saying the deal may hurt competition and innovation.

The European Commission set an Aug. 10 deadline for its decision on the deal.

Japan's biggest drugmaker announced the disposal of US$10 billion worth of assets to cut debt in May last year, and also said it was selling TachoSil, a surgical patch for bleeding control, to Johnson & Johnson's Ethicon for US$400 million.

(Reporting by Foo Yun Chee)

Source: Reuters

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