Definition of Relevant Product Market in Reference to R&D Poles in Pharmaceutical Sector Mergers
All competition analysis, including in relation to mergers, begins by defining the relevant market. In sectors where innovation plays a major role, the definition of the relevant market must also take into account the R&D efforts of the merging firms. One field in which R&D poles can be identified early on is the pharmaceutical sector. In March 2015, the European Commission released the pu