Pfizer and Zoetis (variation of CT-2009-014) - Order allowing an application under paragraph 106(1)(b) of the Competition Act to vary a Consent Agreement

Pfizer and Zoetis (variation of CT-2009-014) - Order allowing an application under paragraph 106(1)(b) of the Competition Act to vary a Consent Agreement

The Tribunal accepted the Commissioner’s application under paragraph 106(1)(b) to vary the registered Consent Agreement because the variation was justified by the change in ownership and control, the parties consented, the Commissioner was satisfied with the information and reasons provided, and the proposed amendments preserved the remedial purpose of the original agreement; accordingly the Consent Agreement was varied as set out in Schedule I to reflect obligations of Pfizer and Zoetis, remove Wyeth as a separate respondent and reduce reporting frequency.

Citation
2016 Comp Trib 10
Parties
Applicant: Commissioner of Competition; Respondent: Pfizer Inc.; Respondent: Zoetis Inc.
Court
Competition Tribunal
Jurisdiction
Canada
Judgment Date
8 June 2016
Procedural Posture
Variation of Consent Agreement Under the Competition Act / Order Allowing Application on Written Record; Consent Agreement Varied and Registered (order Dated June 8, 2016)
Outcome
Application allowed; Consent Agreement varied in accordance with Schedule I of the Order dated June 8, 2016
Legal Topics
Consent Agreement Variation, Divestiture, Monitors, Divestiture Trustee, Confidential Information, Intellectual Property
Source Language
English
Competition Law Merger Remedies Regulatory Compliance Consent Agreement Variation Divestiture Monitors Divestiture Trustee Confidential Information +1 more

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Parties

Commissioner of Competition

Applicant

Pfizer Inc.

Respondent

Zoetis Inc.

Respondent

Procedural Posture

Variation of Consent Agreement Under the Competition Act / Order Allowing Application on Written Record; Consent Agreement Varied and Registered (order Dated June 8, 2016)

Legal Issues

  1. 1 Whether the Consent Agreement should be varied under s.106(1)(b) of the Competition Act
  2. 2 Allocation of continuing obligations between Pfizer and Zoetis after corporate reorganizations
  3. 3 Appropriateness of reducing reporting frequency given limited remaining obligations

Ratio Decidendi

The Tribunal accepted the Commissioner’s application under paragraph 106(1)(b) to vary the registered Consent Agreement because the variation was justified by the change in ownership and control, the parties consented, the Commissioner was satisfied with the information and reasons provided, and the proposed amendments preserved the remedial purpose of the original agreement; accordingly the Consent Agreement was varied as set out in Schedule I to reflect obligations of Pfizer and Zoetis, remove Wyeth as a separate respondent and reduce reporting frequency.

Court Disposition

Application allowed; Consent Agreement varied in accordance with Schedule I of the Order dated June 8, 2016

Orders

  • The Consent Agreement filed October 14, 2009 is varied in accordance with Schedule I to the Order dated June 8, 2016
  • Wyeth removed as separate respondent; obligations allocated between Pfizer and Zoetis as set out in Schedule I