By its Decision no 817/2023, adopted on the 5th of May 2023, the Hellenic Competition Commission (HCC), in Chamber, unanimously approved, pursuant to Article 8 (3) of Greek Law 3959/2011, the notified concentration concerning the acquisition by INNOVIS PHARMA SA of sole control over certain assets of GAP S.A., within the meaning of Article 5 (2b) of Greek Law 3959/2011

INNOVIS’s main business activity is the distribution of pharmaceutical and cosmetic products within the Hellenic territory. GAP is mainly active in the development, production and distribution of pharmaceutical and vitamin products as well as nutritional supplements.

Via the notified concentration, INNOVIS acquires the necessary rights/intangible assets for the exclusive distribution in Greece of specific pharmaceutical products currently distributed by GAP.

The merger, horizontal in nature, pertains to distinct relevant markets in the pharmaceutical sector. Whereas the concentration falls within the scope of article 6(1) of Greek Law 3959/2011, the HCC, by its decision, concluded that it does not raise serious concerns as to its compatibility with competition rules in the relevant markets it concerns.