The Hellenic Competition Commission (HCC) accepted the commitments proposed by the company under the name FREZYDERM S.A. ("FREZYDERM"), which are aimed at addressing the competition concerns raised in the context of the investigation conducted by the HCC Directorate-General for Competition in respect of specificcontractual terms restricting on cross-selling between authorised Greek retailers of the selective distribution network of the company complained of, namely FREZYDERM S.A., as well as on their wholesale exports, active and passive, to selected distributors of the network in the EU member states.

By its Decision no 778/2022, adopted by majority in plenary sitting, and in accordance with Article 25C of Law 3959/2011, the HCC, accepted the commitments proposed by FREZYDERM and made them binding, to address competition concerns (Articles 1 L. 3959/2011 and 101 TFEU) raised in the preliminary assessment in relation to specific contractual terms of FREZYDERM in the relevant market for the production and distribution of cosmetic products, in general, personal and baby care products, "parapharmaceuticals", and other related products distributed through pharmacies, e-shops, para-pharmacies, and pharmaceutical wholesalers. According to its preliminary assessment, the HCC considered that these contractual terms could result in, and intensify the partitioning of national markets as well as reduce intra-brand competition by restricting, through the prevention of cross-selling, the possibility of any arbitrage between the members of the selective network with regard to the selling prices of the products by the company complained of, namely FREZYDERM S.A, in breach of Article 1 (1) of Law 3959/2011 and Article 101 TFEU.

In view of the above, FREZYDERM, although it does not admit having committed any breach of competition rules, offered commitments to address the HCC’s competition concerns in the most effective way. By these commitments, the company mainly aims at removing and/or modifying contractual terms included in contracts with its distributors, both in Greece and abroad, which are considered as an infringement, according to the Statement of Objections, and at taking specific actions pertaining to the development and implementation of a competition compliance programme for its executive staff.

FREZYDERM undertook to implement the proposed commitments within three (3) months following the notification of this Decision, and to maintain them in force for a period of five (5) years. The Decision of the HCC on the acceptance of the commitments does not constitute a final infringement or non-infringement decision of the HCC. In the event of non-compliance with these commitments, the HCC may impose the fines provided for by law.

Furthermore, according to the Decision, the complaint lodged by "INTERMED S.A." against "FREZYDERM S.A.", concerning an infringement of Articles 1 and 2 of Law 3959/2011 and Articles 101 and 102 TFEU, is unanimously rejected as unfounded on the grounds set out in detail, as no restrictive practice by object is found against the company complained of through specific promotional activities targeted at pharmacies, in terms of resale price maintenance and concerted price-fixing among distributors, in violation of Article 1 (1) of Law 3959/2011 and Article 101 TFEU. Moreover, no dominant position is found to be held by the company complained of in the relevant market concerned and, therefore, the examination of any abusive behavior is irrelevant.