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GlaxoSmithKline offers concessions to address EU concerns over the Pfizer deal

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GlaxoSmithKline has offered concessions to address European Union antitrust concerns over its planned joint venture with Pfizer's consumer health business, the European Commission said on Thursday.

The EU competition enforcer will decide by July 10 whether to accept the proposal, demand more or open a full-scale investigation, according to a filing on its site.

GSK announced the deal in December last year, a move which will put it ahead of rivals Johnson & Johnson, Bayer, and Sanofi.

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Key Points
  • Employer medical costs are projected to rise by 6% next year, according to PwC.
  • The rate of increase is a four-year high, due in part to rising drug prices.
  • The jump is attributed to expensive specialty drugs that weren't available a few years ago.