Concerns raised over Generika’s acquisition of North Luzon rival

The Philippine Competition Commission said it launched an in-depth review of the proposed acquisition by the Generika Drugstore operator of a substantial stake in a Northern Luzon drugstore chain.

AHCHI Pharma Ventures Inc. , operator of Generika Drugstore, and Joleco Resources Inc., operator of St. Joseph Drugstore, notified PCC on Jan. 13, 2024, of the proposed transaction, which would involve Ayala Pharma Ventures acquiring a 49-percent stake in Joleco Resources. An initial data-gathering by PCC Mergers and Acquisitions Office under its phase 1 review pointed to potential competition concerns in the retail sale of pharmaceutical and non-pharmaceutical products across 28 localities in Northern Luzon.Given the above, the MAO recommended opening a phase 2 review, which entails conducting a more detailed and extensive assessment on whether the transaction may lead to a substantial lessening of competition in the relevant markets.

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