Nine senators sent a letter to FTC Chairman Joseph Simons urging greater scrutiny over like the one between BMS and Celgene, expressing concern over antitrust issues, innovation and drug pricing.
In a letter to Federal Trade Commission Chairman Joseph Simons this week, the senators urged the agency to closely scrutinize mergers in the biopharma industry that raised issues around competition, especially as rising costs of prescription drugs have become a significant public policy issue.
Sen. Amy Klobuchar, D-Minnesota and ranking member of the Senate Judiciary Subcommittee on Antitrust, Competition Policy and Consumer Rights led the letter. Seven other Democratic senators – Richard Blumenthal of Connecticut, Cory Booker of New Jersey, Mazie Hirono of Hawaii, Kamala Harris of California, Elizabeth Warren of Massachusetts, Tammy Baldwin of Wisconsin, Tina Smith of Minnesota and independent Bernie Sanders of Vermont were also signatories. Klobuchar, Booker, Harris, Warren and Sanders are also running for president on the Democratic ticket.
“This industry consolidation is occurring against a backdrop of ever rising prescription drug spending and reports that one-in-four people taking prescription drugs have difficulty affording their medication,” the letter read. “It is more important than ever that the FTC take appropriate action to protect consumers.”
Full Content: Klobuchar
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 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