FTC Vote On BMS-Celgene Acquisition Splits Over Drug Pricing
Divesting Celgene's psoriasis drug Otezla will remedy anticompetitive harm from acquisition, US Federal Trade Commission votes 3-2. Dissenting Democrat commissioners want broader review of pharma mergers.
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Pink Sheet infographic breaks down the big pharma deals and required divestitures over the past four years. Seagen reports that Pfizer's acquisition of the company is expected to close late this year or in early 2024.
The commission no longer has a voice opposing aggressive antitrust enforcement actions and President Biden's replacement may be more receptive to the stance of the three current Democratic commissioners. Amgen’s proposed acquisition of Horizon is facing FTC scrutiny.
Pfizer’s acquisition of Arena without FTC intervention and Hikma’s acquisition of Custopharm with one product divestiture shows the commission is bound by anticompetitive facts of a deal. A more controversial merger may not get through, former FTC attorney says.