On 1 June 2023, the European Commission (EC)
adopted the revised horizontal block exemption regulations
(HBERs) on research and development
(R&D) and specialisation agreements, as well
as the revised Guidelines on horizontal cooperation
(Guidelines). The updated EC regulations will
enter into force on 1 July 2023 and will remain valid until 30 June
2035. The Guidelines will come into effect once they are published
in the EU's Official Journal.
During a transitional period of 2 years, agreements that do not
meet the conditions of the new HBERs but which meet the conditions
of one of the previous HBERs can remain block exempted.
The new Guidelines provide welcome additional guidance on
information exchange both in terms of clarifying existing concepts
and providing specific guidance in relation to issues not
previously covered such as the use of algorithms or information
exchange in the context of M&A. The EC has also improved the
structure of the Guidelines to make
