Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels,  3.8.2020  
C(2020 ) 5467 final  
PUBLIC VERSION  
To the notifying parties  
Subject : Case M.9812 - VERILY LIFE SCIENCES / SANTEN 
PHARMACEUTICAL / JV  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No 139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 9 July 2020 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 and following a re ferral pursuant to Article 4(5)  of 
the Merger  Regulation by which the undertakings Verily Life Sciences LLC 
(“Verily”, USA), controlled by Alphabet Inc. (USA) , and Santen Pharmaceutical 
Company, Ltd. ( “Santen” , Japan ) acquire  within the meaning of Article 3(1)(b) and 
3(4) of the Merger R egulation  joint control of a newly created joint venture (“JV ”). 
The concentration is accomplished by way of purchase of share s.3 
2. The business activities of the undertakings concerned are:  
 Verily focuses on life sciences and healthcare. It creates innovative tools and 
technologies to prevent and manage disease, partnering with life sciences, 
medical device and government organizations;  
 Santen is a pharmaceutical company focused on ophthalmology. It carries out 
research and development, marketing and  sales of pharmaceutical products;  
 The JV will research, develop and commercialise a portfolio of ophthalmology 
devices designed to treat or diagnose eye disorders or otherwise provide tools to 
assist patients, caregivers, or providers to manage overall ey e health.  
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Community ’ by ‘Union ’ and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p.  3 (the ‘EEA Agreement ’). 
3  Publication in the Official Journal of the European Union No C 235, 17.07.2020 , p. 4. 

2 3. After examination of the notification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation  and of 
paragraph 5(a) of the Commission Notice on a simplified procedure for treatment of 
certain concentrations under Council Regulation (EC) No 139/2004 .4 
4. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppose the notified operation and to declare it 
compatible with the internal market and with the EEA Agreement. This decision is 
adopted in application of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agreement . 
For the Commission  
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
 
 
                                                 
4  OJ C 366, 14.12.2013, p. 5 .