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Insights November 2025

A sector under the spotlight: what recent cases in Romania and at the EU level signal for pharma compliance

Competition and regulatory authorities across Europe are showing renewed vigilance toward the pharmaceutical sector—a field shaped by the intersection of competition law, regulatory frameworks, consumer protection, and IP. Recent cases illustrate that investigations in this area are increasingly complex and precedent driven, offering valuable guidance on how authorities assess commercial behaviour. Sun Wave Pharma case – the Romanian Competition Council unveils unfair competition practices In May 2025, the Romanian Competition Council (“RCC”) announced the conclusion of its investigation into Sun Wave Pharma S.R.L., a major player in the food supplements market in Romania. The inquiry focused on allegations

Insights October 2025

Competition Law Update in Romania: Q3 2025

The Romanian Competition Council (“RCC”) remained highly active throughout the third quarter of 2025, advancing its enforcement and policy agenda across multiple fronts. Highlights include the adoption of Romania’s first foreign direct investment (“FDI”) guidelines, the launch of a public consultation on urban utility approvals, and intensified merger control and antitrust activity across the telecom, retail and agribusiness sectors. These efforts are reinforcing the RCC’s commitment to safeguarding competition in strategically important markets. I. Latest Updates FDI Guidelines On the FDI screening front, Romania adopted its first set of investment screening guidelines (“FDI Guidelines”)

Insights August 2025

Romania adopts first set of investment screening guidelines

On 30 July 2025, Romania enacted its first set of guidelines dealing with investment screening aspects (the “Guidelines”), generally codifying authorities’ practice so far and views on particular aspects. The Guidelines were adopted by the Romanian Competition Council (“RCC”), which hosts the secretariat of the Commission for the Screening of Foreign Direct Investment (the body entrusted with carrying out the screening of investments). The RCC is also entrusted with issuing the national security clearances for non-problematic cases. A draft of the Guidelines was initially launched into public consultation by the RCC in mid-February 2025 and interested parties had until 11 March 2025 to provide feedback. The publication

Insights July 2025

Romania: Mid-year Competition Law Update

The second quarter of 2025 marked a dynamic period for competition law in Romania, driven by significant legislative developments, a surge in merger activity, and the launch of several new investigations. In this Competition Law Update, we highlight the key developments and explore their potential implications for the remainder of the year. Latest Updates Legal privilege-related amendments to Romanian Competition Law As of 26 June 2025, the Romanian Competition Council (“RCC”) operates under updated procedural rules concerning the treatment of communications claimed to be protected by legal professional privilege (“LPP”) during dawn raids. These changes stem from the enactment of Law No. 111/2025

Insights April 2025

Category Management Agreements: Belgian Competition Authority issues landmark decision in cartel case involving anti-competitive arrangements for the placement of OTC medicines in pharmacies

On 24 April 2025, the Belgian Competition Authority (“BCA”) announced that it had imposed fines totalling EUR 11.2 million on pharmaceutical companies Johnson & Johnson, Boehringer Ingelheim, and Haleon. The sanctions were issued following a settlement in a case concerning anti-competitive practices linked to category management agreements for over-the-counter (“OTC”) medicines. According to the European Commission Guidelines on Vertical Restraints, category management agreements are agreements whereby a distributor delegates to a supplier (the so-called “category captain”) the responsibility for marketing an entire category of products. While such agreements are generally considered unproblematic, the Guidelines