October 18, 2016 / 3:56 PM / a year ago

Boehringer offers EU concessions over Sanofi animal health unit purchase

BRUSSELS, Oct 18 (Reuters) - German pharmaceuticals company Boehringer Ingelheim has offered concessions in an attempt to secure EU antitrust approval for its acquisition of Sanofi’s animal health unit as part of a $20 billion asset swap.

Boehringer submitted its concessions on Monday, according to a filing on the European Commission website, which did not provide details.

The EU competition authority can clear the deal if it thinks that the concessions can ease its concerns or it can demand more compromises. It can also open a full investigation into the case. Such an EU investigation can last up to five months.

Boehringer had offered concessions in July but withdrew its request for EU approval five days later. It was not clear why.

Sanofi gained EU clearance in August to take over Boehringer’s consumer health division after agreeing to sell businesses that distribute four animal health products in nine EU countries including France, Poland, the Czech Republic and Greece.

Regulators had worried that the deal might result in consumers paying more for their medicines. (Reporting by Foo Yun Chee; Editing by Susan Fenton)

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