The Romanian NCA cleared with conditions what was one of the largest transactions in Romania on the pharmaceutical market in 2017. The transaction concerned the takeover by Glebi Holdings PLC of A&D Pharma Holdings NV.

Glebi Holdings PLC is part of Penta Group, which is active in Romania in the gambling as well as medical sector. As for the medical sector, Penta Group carries out wholesale and retail trading activities of pharmaceutical and para pharmaceutical products. The retail pharmaceutical activities are carried out through the Arta pharmacies. A&D Pharma Holdings NV is a company of A&D Pharma Group which is active in the medical sector. The A&D Pharma Group is vertically integrated and has production, distribution and retail activities in the pharmaceutical and para pharmaceutical sector. The retail pharmaceutical activities are carried out through the Sensiblu and Punkt pharmacies.

In its assessment, the Romanian NCA found that the transaction would lead to overlaps both on wholesale and retail trading markets with pharmaceutical and para pharmaceutical products and would consolidate Glebi Holdings PLC’s position on the retail trading market of the mentioned products. In order to alleviate the competition concerns, Glebi committed to divesting 18 Arta pharmacies.