Spanish Antitrust Authority Issues First-ever Merger Block

Spain's antitrust authority (CNMC) has prohibited Curium from acquiring Instituto de Radiofarmacia de Barcelona (IRAB). The CNMC considered that neither the commitments offered by Curium nor conditions that it could impose would effectively address its antitrust concerns.

Broadly framed concerns

The CNMC focused on two markets linked to cancer detection tests where the parties' activities overlap:

• The supply of PSMA PET radiopharmaceuticals where the CNMC found the parties have combined market shares of over 80%
• The provision of PET radiopharmaceuticals contract manufacturing services (CMO) to third parties in north-eastern Spain (Operators without their own infrastructure (cyclotron) depend on these services to supply PET radiopharmaceuticals and, post-merger, the CNMC says their supply options would be reduced from three to two.)