Regeneron CEO Takes Industry Counterview On FTC Suit: ‘I’m Glad They’re Looking Into This’
Leonard Schleifer said it is time for US regulators to review whether certain rebate practices are anti-competitive, while speaking at the Financial Times US Pharma & Biotech Summit in response to the FTC’s effort to stop Amgen’s acquisition of Horizon.
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Pfizer chief clinical officer William Pao, Roche pharma CEO Teresa Graham and others weighed in on what FTC’s action could mean for pharma M&A at the Financial Times Pharma Summit.
Complaint marks first time agency has raised novel theories of competitive harm in pharma merger and is rare instance in which it has filed a complaint without a consent decree. Last time FTC has gone to court to block a pharma merger was in 2008.
The US Federal Trade Commission is taking a stand against rebating and bundling practices pharma companies use in negotiations with payers as it seeks to block Amgen’s $28bn acquisition of Horizon.