Non-compete clauses in cooperation agreements – caution required

Non-compete clauses that require a party to an agreement (or both parties in case of a reciprocal non-compete obligation) not to enter a market where it is currently not present are most common in M&A contracts for the sale of a business, where the seller undertakes not to compete with the sold business for a … Read more

Another chapter in the “pay for delay” saga: General Court rules on the Teva-Cephalon settlement agreement

On 18 October 2023, the European General Court (GC) delivered its judgment in Teva Pharmaceuticals Industries and Cephalon v European Commission (Case T-74/21). The GC upheld the European Commission’s (EC) decision from 2020 (Case AT.39686), which imposed a combined fine of €60.5 million on Teva and Cephalon for their involvement in a “pay-for-delay” agreement dating … Read more

CBAM starts to apply

The EU’s ambitious and innovative Carbon Border Adjustment Mechanism (“CBAM”) was finally adopted as part of a package of other “Fit for 55” climate actions on 10 May 2023.  A first Implementing Regulation of over 100 pages was adopted on 17 August 2023 together with over 350 pages of initial guidance. CBAM is an ingenious … Read more

Competition in Digital Markets (Lexology GTDT Fourth Edition)

Experts from across our London, Brussels and Dusseldorf competition teams have updated the content for the fourth edition of Lexology Getting the Deal Through: Competition in Digital Markets, the go-to publication helping businesses and their advisers successfully navigate the myriad of complex issues that can arise when applying competition law in digital markets. We are … Read more

Overview of the EU Commission’s Guidance on Information Exchange

In June 2023 the European Commission adopted its revised guidelines on horizontal cooperation agreements (Guidelines) together with its revised horizontal block exemption Regulations on R&D and Specialisation Agreements.  For an overview of the revised Guidelines, which came into force on 21 July 2023 when they were published in the EU’s Official Journal, see our blog … Read more

EU moves towards outbound investment controls: a geopolitical European Commission shifts gear

Introduction The European Commission has become extremely active in creating new instruments to deal with actual and impending geopolitical challenges and threats. We have previously commented on the adoption of various measures including the Foreign Subsidies Regulation, the FDI Screening Regulation, the Carbon Border Adjustment Mechanism, the Anti-Coercion Mechanism, the Critical Raw Materials Act and … Read more