GSK, Pfizer JV get S. Africa’s conditional approval for merger

The South Africa’s Competition Commission on Tuesday granted conditional approval to GlaxoSmithKline Plc and Pfizer Inc.’s planned joint venture.

South African regulator said although the deal was not likely to reduce competition, it would impact local manufacturers of pharmaceuticals for Pfizer.

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To address those concerns, the regulator suggested the merging parties continue using Spechpharm Holdings, a South African firm that provides manufacturing and packaging services, for three years.

The conditional approval has also cleared a hurdle in the creation of a consumer health giant with sales of 9.8 billion pounds ($12.38 billion) annually. (NAN)