On Tuesday, the UK’s Competition and Markets Authority (CMA) announced that it has launched an anti-competition investigation into the AstraZeneca-Alexion deal.
The agency wonders whether the transaction would hurt competition “within any market or markets in the United Kingdom,” it stated in a notice.
The CMA is now soliciting public comments until June 3 to help with its evaluation and aims to reach a decision by July 21. If, at that time, the agency finds any reason to believe a “realistic prospect” of threats to competition, it may launch a more in-depth, phase 2 assessment that may last up to 24 weeks or even 32 weeks in special circumstances, according to the CMA rules.
For months, industry watchers have been watching for increased deal-making scrutiny from the US Federal Trade Commission (FTC). In March, the US antitrust authority launched a review of its current product-by-product approach to evaluating biopharma M&A. The FTC, now led by Democrats after last year’s election, stated a rise in mega deals such as those between Bristol Myers Squibb and Celgene could be contributing to high drug prices and anti-competitive behaviors such as pay-for-delay settlements.
However, the FTC last month blessed the Alexion takeover without raising any issues. Still, the FTC’s initiative includes a collaboration with competition authorities in other countries.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
EU Extends Support for Farms and Fisheries Amid Market Disruptions
May 5, 2024 by
CPI
Sony and Apollo Bid $26 Billion for Paramount Acquisition
May 5, 2024 by
CPI
Goldman Sachs Resolves Decade-Old Metal-Rigging Class Action Lawsuit
May 5, 2024 by
CPI
Italian Antitrust Ruling Puts Halt on Intesa Sanpaolo’s Fintech Ambitions
May 5, 2024 by
CPI
Google Antitrust Case: Closing Arguments Conclude
May 5, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI