U.S. pharmaceutical group Pfizer has recently agreed to buy its rival Wyeth for $68 billion, while drug manufacturer Merck has announced a $41 billion merger with Schering-Plough. The U.S. Federal Trade Commission (“FTC ”) is reviewing both transactions and has issued a second request to Pfizer. Both transactions are also subject to approval by the EC and by several other antitrust authorities. The EC has extensive experience in reviewing pharmaceutical mergers and is expected to work in close cooperation with the FTC . The deals are scheduled to close by the end of the year.