Moroccan Competition Council Fines U.S. Pharmaceutical Company and Plans Probes into Other Firms
The Moroccan Competition Council has imposed a fine of 7.58 million dirhams (approximately $760,000) on the U.S.-based pharmaceutical giant Viatris Inc for failing to notify the council of its merger, according to two official sources cited by Reuters.
The fine, equivalent to 2.5% of Viatris’ revenues in Morocco during the previous year, has already been paid to the Moroccan treasury. The sources, who spoke on condition of anonymity, confirmed that Viatris has not appealed the decision.
Viatris was established in 2020 following the merger between Mylan, which has operations in Morocco, and Upjohn, a division of Pfizer.
The council also announced plans to investigate other unreported mergers. Among these is a joint venture between Morocco’s OCP Group, a leading global player in phosphates and fertilizers, and Fertinagro Biotech, as well as the acquisition of Whirlpool’s Middle East and North Africa operations by Turkey’s Arcelik, according to one of the sources.
When asked by Reuters whether it had notified the council about its joint venture, OCP Group stated that it had taken “all necessary measures” and “always ensures compliance with all relevant legal and regulatory requirements, including competition and antitrust laws.” Meanwhile, Arcelik did not respond to Reuters’ inquiries.
These developments highlight the council’s increased scrutiny of mergers and acquisitions to ensure compliance with competition laws, reflecting its commitment to fostering fair market practices in Morocco.
