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Regulator clears merger of Hungarian drug seller owners

Hungary's competition office GVH on Friday said it cleared the acquisition of a controlling interest in UTA Pharma Beteiligungs GmbH, which owns Hungarian retail drug seller Pharmanova, by Nordic Beteiligungs GmbH, which owns Hungarian drug wholesaler Phoenix.

While both Hungarian units have a significant position on the same market, the merger is "not expected to have a damaging effect on competition", the watchdog said.

Pharmanova had revenue of HUF 46 billion and Phoenix revenue of HUF 213.5 billion in 2009.