Rabat — US pharmaceutical giant Viatris reportedly failed to notify Morocco’s regulators about its merger and received a fine of $760,000.
The fine represented 2.5% of Viatris’ revenue in Morocco last year, Reuters quoted two official sources as saying on Thursday.
The sources, which requested anonymity, paid the fine, noting that the regulator is planning to report on other mergers which companies failed to notify.
The company is a global healthcare corporation, with a headquarters in Pennsylvania.
It was formed via the merger of Mylan and Upjohn — a division of Pfizer — in November of 2020.
In its fights against COVID-19, Morocco adopted the Pfizer vaccine among others as part of its strategy to tackle the pandemic.
The Viatris case reflects Morocco’s determination to ensure antitrust regulations as part of its efforts to ensure transparency and fair competition.
The regulator body refers to Morocco’s Competition Council, which seeks to safeguard and promote effective competition across various sectors.
The council ensures that businesses operate fairly, protecting consumers and fostering a more competitive economic environment.
