United States Senators Chuck Grassley (R-Iowa) and Amy Klobuchar (D-Minn.) recently sent a letter to Federal Trade Commission (FTC) Chairman Joseph Simons urging the “FTC to examine global patent settlements relating to biosimilars to ensure they are not in violation of antitrust laws.”
According to the Senators, “biologics constitute a substantial and increasing portion of our nation’s healthcare costs” and “without biosimilar competition, US patients and payers will likely see additional price increases on biologics in the years to come.”
The letter notes that “pay for delay” settlements have been estimated to cost consumers US$3.5 billion per year.
The letter states that the FTC has filed lawsuits and worked with Congress to stop pay-for-delay settlements, and the Senators indicated that they “would like to continue those efforts to combat these agreements and explore their impact on the biologic market.”
Full Content: Grassley Senate
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Former Sales Pro Admits to Bid Rigging Targeting US Schools
May 13, 2024 by
CPI
Macron Advocates EU Financial Integration Amid Push for Global Competitiveness
May 13, 2024 by
CPI
Microsoft Faces EU Antitrust Charges Over Teams Software
May 13, 2024 by
CPI
EU Antitrust Complaint Filed Against Edwards Lifesciences by Indian Rival Meril
May 13, 2024 by
CPI
South Korea’s Antitrust Watchdog Partners with AliExpress and Temu to Address Safety Concerns
May 13, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI