FTC Objections To Pharma Mergers Could Go Unchallenged Following Wilson’s Resignation
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.
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Pfizer and Amgen both have large M&A deals under regulatory review, and investors will be eager to hear updates on how those transactions are progressing during Q2 reporting.
Republican members of the House Judiciary Committee question FTC policies under Khan’s leadership, including its challenge of the Amgen-Horizon and Illumina-Grail mergers, as well as a proposal to require more information in pre-notification submissions. ‘You’re a bully,’ Representative Issa tells her.
Amid period of 3-0 decisions by commission, President Biden nominates two state solicitor generals for vacant FTC seats, both reserved for GOP appointments. Virginia’s Andrew Ferguson previously clerked for Justice Thomas and was Senate GOP leader McConnell’s chief counsel; Utah’s Melissa Holyoak led a conservative advocacy group focused on fighting class action lawsuits and aggressive regulation.