Global blood plasma merger cleared

BPL’s acquisition of Biotest has been cleared unconditionally by the CMA at Phase 1.

BPL (a subsidiary of Creat Group) and Biotest were the two largest European suppliers of blood plasma-derived antibodies. The products are a vital treatment option for certain blood disorders and immune system conditions.

The analysis focused both on the upstream collection of blood plasma from donors, which primarily occurs in the US, and the sale of biotherapeutic products to the NHS and hospitals through tenders and ad-hoc sales. The CMA also looked in detail at the vertical aspects of the transaction, testing whether the parties would be able to foreclose downstream competitors.

The deal was initially blocked and then subject to upstream divestments in the US due to concerns raised by the Committee on Foreign Investment in the US (CFIUS).

Simon Chisom and Matthew Bennett of CRA provided economic support to the merging parties in proceedings before the UK competition authority.