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Warren Sends Letter To FTC Over Amgen & Indivior Deals

 |  January 26, 2023

Sen. Elizabeth Warren, an outspoken critic of corporate consolidation, wrote to the US Federal Trade Commission to express concern about two pending pharmaceutical deals.

In a letter dated Wednesday, Warren said that she was focused on Amgen’s plan to buy Horizon Therapeutics, and addiction specialist Indivior’s plan to buy Opiant for $145 million, which was announced in mid-November.

“Given these companies’ records of anti-competitive business practices, these acquisitions could cause further price increases on lifesaving drugs and prevent affordable alternatives from entering the market,” she wrote in the letter to FTC Chair Lina Khan as well as Commissioners Rebecca Slaughter and Alvaro Bedoya, all of whomare Democrats.

Read more: Warren Asks FTC & DOJ For “Rigorous Oversight” Big Tech’s Expansion Into Automobiles

The agency shares the job of assessing mergers to ensure they comply with antitrust law with the Justice Department. It can sue to block planned acquisitions that it believes are illegal.

Warren said that both Amgen and Horizon Therapeutics “have engaged in brazen price increases,” including on Amgen’s Enbrel for arthritis and Horizon’s Krystexxa, a gout medication.

She noted that the FTC had settled with Indivior and its former parent over its attempt to protect its monopoly of the opioid addiction treatment Suboxone. Indivior makes Sublocade — a slow-release treatment for opioid addiction that is administered monthly. Suboxone is given daily and also prevents an accidental overdose.