By Ahmed Eljechtimi
RABAT (Reuters) – U.S. pharmaceutical giant Viatris Inc (NASDAQ:) has been fined 7.58 million dirhams ($760,000) by Morocco’s competition regulator for failing to notify it regarding its merger, two official sources said on Thursday.
Viatris was formed by the merger of Mylan, which has a subsidiary in Morocco, and Pfizer (NYSE:)’s Upjohn business in 2020.
The fine, equivalent to 2.5% Viatris; revenue in Morocco last year, has already been paid to the Moroccan treasury, the sources said, requesting anonymity.
Viatris also declined to appeal the decision, the sources said.
Viatris did not immediately respond to a Reuters emailed request for comment.
The regulator is examining other mergers where Moroccan authorities have not been notified, one of the sources said.
(This story has been corrected to fix the name of the company in the headline)