By Rosie Wilson

Global healthcare company Allergan have announced that the pending acquisition of the company by pharmaceutical brand Actavis has today been cleared by the European Commission.

The acquisition remands subject to customary conditions, and is expected to be confirmed on or around 17 March 2015. The clearance of the pending acquisition follows a $66 billion deal between the companies.

According to an announcement last week, both companies’ shareholders have approved the potential acquisition, the deal for which began in November 2014.