BRUSSELS, Sept 23 (Reuters) - European Union antitrust regulators cleared Swiss drugmaker Novartis AG on Wednesday to take over Ebewe SP, the generic cancer drugs operation of Austria's Ebewe Pharma. Novartis had announced the 925 million euro ($1.37 billion) deal in May to buy the injectable generic cancer drugs business, which is expected to help it diversify away from brand-name treatments.
The European Commission, competition watchdog of the 27-nation European Union, said in a statement that the deal would not raise antitrust concerns.
"Significant market shares and overlaps between the parties' activities would only arise in a small number of markets where a sufficient number of credible competitors would remain," the Commission said.
Novartis, active in originator and generic pharmaceutical and animal health products worldwide, will acquire the research, development and manufacturing assets of Ebewe's cancer business, which includes a production site in Austria. (Reporting by Bate Felix; Editing by Dale Hudson)