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
FTC Lawyers Wrap Up Arguments to Block Kroger-Albertsons Merger
Sep 17, 2024 by
CPI
Financial Regulator to Monitor CNMC’s Ruling on BBVA-Sabadell Acquisition
Sep 17, 2024 by
CPI
Green Day Ticket Prices Spark Controversy Amid Dynamic Pricing Concerns
Sep 17, 2024 by
CPI
Michael Kors Points to TikTok and Taylor Swift in Defense of Luxury Handbag Market in FTC Case
Sep 17, 2024 by
CPI
Irish Watchdog Probes Google’s AI Data Practices
Sep 17, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
Francisco Javier Núñez Melgoza
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
Julio Garcia
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
Alejandra Palacios Prieto
The Cost of Making COFECE Disappear
Sep 3, 2024 by
Mateo Fernández