Phoenix Group’s acquisition of a part of McKesson Europe
On September 30th, 2022, the French Competition Authority (ADLC) cleared the acquisition of OCP Repartition, subsidiary of McKesson Europe, by Phoenix group with minor behavioral remedies following Phase I review. This decision follows the unconditional clearance by the European Commission of all other EEA countries and referral back to the ADLC for France.
The deal involved overlaps in the wholesale and retail distribution of pharmaceutical goods in several European countries. The ADLC considered both local markets and a national market taking into account the buyer power of the Pharmaceutical Purchasing Groups which mainly operate at national level. CRA played a pivotal role in showing the role of PPGs and the increasing competitive constraints from players evolving outside the defined market, convincing the ADLC to accept the proposed behavioural remedies.
A CRA team including Laurent Flochel, Romain Bizet, and Sylvestre Boittin-Duchesne advised both Parties for the European Commission and the ADLC proceedings. For more details, please see the EC’s and the FCA’s press releases.