FTC Vote On BMS-Celgene Acquisition Splits Over Drug Pricing
Divesting Celgene's psoriasis drug Otezla will remedy anticompetitive harm from acquisition, US Federal Trade Commission votes 3-2. Dissenting Democrat commissioners want broader review of pharma mergers.
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FTC is working with Canadian and European enforcement agencies to come up with new approach to merger reviews that could look at effects on innovation and companies' past conduct. FTC to review closed mergers to see if corrective action is necessary, FTC acting chair says.
President Biden’s picks to fill two commissioner posts may shift dynamics on pharmaceutical industry enforcement. Rohit Chopra’s nomination to Consumer Financial Protection Bureau removes strong critic of pharma mergers.