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MOFCOM Approves Abbott Laboratories to Acquire Equities of St. Jude Medical, Inc. with Additional Condition

On December 20, 2016, MOFCOM approved Abbott Laboratories (hereinafter referred to as Abbott) to acquire the equities of St. Jude Medical, Inc. (hereinafter referred to as St. Jude) with restrictive condition.

MOFCOM accepted the notification of concentrations of undertakings on Abbott’s acquisition of St. Jude on July 4, 2016, and launched the investigation on September 6, 2016. Further review will be ended by January 4, 2017. Abbott and St. Jude take the lead in medical instrument. In the Chinese market of vascular closure device, Abbott and St. Jude take up 71.3% and 23.9% respectively, with a combined market share of more than 95%. After investigation, MOFCOM believed that the concentration may exclude or restrict competition and decided to approve the concentration with St. Jude’s global vascular closure device business being stripped as restrictive condition, and agreed Terumo Corporation to purchase the stripped business.

Along with the investigation, Chinese Ministry of Commerce and anti-monopoly institutions in US and EU have made exchanged ideas on review progress and competition concern.


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