Pharmaceutical sector

The Competition Authority has cleared Hemofarm ad's acquisition of Ivancic i sinovi doo. Hemofarm is part of the German Stada group and is the leading pharmaceutical company in Serbia and the Western Balkans.

This was a horizontal concentration in which the leading pharmaceutical company bought family business Ivancic i sinovi. The Competition Commission found that the concentration would not significantly affect market structure or competition in Serbia. By acquiring control over the target, Hemofarm is expected to slightly increase its market share. In line with practice in Serbia and European Union, the commission applied the anatomical therapeutic chemical classification system in order to define the relevant product market.

Media sector

The authority has also cleared Antenna Stream TV Limited Kipar's acquisition of control over Lake Blade Holding Limited. Both companies operate in the Serbian media market. The authority established that the parties' share of the broadcast television programme market in Serbia is expected to increase after the concentration. With this new market share, Antenna will move closer to its main competitors. Considering the market shares of other competitors, the concentration will not create or strengthen a dominant position in Serbia.

For further information on this topic please contact Srdjana Petronijevic at Moravcevic Vojnovic i Partneri in cooperation with Schoenherr by telephone (+381 11 320 26 00) or email ( The Moravcevic Vojnovic i Partneri website can be accessed at

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