Pharma Mergers May Have Tougher Time Clearing FTC Under New Review Scheme
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.
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Experts suggest US FTC and DOJ retrospectively assess whether a merger gives companies increased leverage with PBMs and consider how it will impact vulnerable communities. Rutger’s Michael Carrier says there should be a presumption against mergers between two large firms.
Panelists at FTC/DOJ workshop suggest new remedies to ensure pharma mergers are not anti-competitive. The commission should support scientists and ensure R&D continues, one expert says.
Pfizer’s acquisition of Arena without FTC intervention and Hikma’s acquisition of Custopharm with one product divestiture shows the commission is bound by anticompetitive facts of a deal. A more controversial merger may not get through, former FTC attorney says.