Attorney General Josh Kaul announced the Wisconsin Department of Justice (DOJ) is joining an international working group, initiated by the Federal Trade Commission (FTC), to update the national and international approach to analyzing the effects of pharmaceutical mergers.
“We must use the tools at our disposal to work to lower the cost of prescription drugs,” said Attorney General Kaul. “I’m proud that Wisconsin is part of this international effort to re-examine antitrust laws to better address consolidation in the pharmaceutical industry.”
The working group will be initiated by the FTC, and will include the Canadian Competition Bureau, European Commission Directorate General for Competition, United Kingdom’s Competition and Markets Authority, US Department of Justice, Pennsylvania Office of the Attorney General, California Department of Justice, and Wisconsin DOJ.
This joint project taps expertise from competition authorities with whom the FTC cooperates frequently, as well as others with relevant experience, to ensure the most effective enforcement in these crucial markets. The goal of this initiative is to identify concrete and actionable steps to review and update the analysis of pharmaceutical mergers. This project will ensure that FTC investigations include fresh approaches that fully analyze and address the varied competitive concerns that these mergers and acquisitions raise.
“Given the high volume of pharmaceutical mergers in recent years, amid skyrocketing drug prices and ongoing concerns about anticompetitive conduct in the industry, it is imperative that we rethink our approach toward pharmaceutical merger review,” said FTC Acting Chair Rebecca Kelly Slaughter. “Working hand in hand with international and domestic enforcement partners, we intend to take an aggressive approach to tackling anticompetitive pharmaceutical mergers.”
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Canadian School Boards Sue Social Media Giants for $4 Billion
Mar 28, 2024 by
CPI
Alaska Airlines and Hawaiian Airlines Enter Timing Agreement with DOJ
Mar 28, 2024 by
CPI
Sam Bankman-Fried Gets 25-Year Sentence for $8B Crypto Fraud
Mar 28, 2024 by
CPI
Walmart Withdraws and Refiles Antitrust Review Application for Vizio Acquisition
Mar 28, 2024 by
CPI
Apple Prevails in Dismissal of Crypto-Payment Antitrust Lawsuit
Mar 27, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Real Estate & Antitrust
Mar 27, 2024 by
CPI
Systematic National Evidence of Steering by Real Estate Agents
Mar 27, 2024 by
CPI
Compliance Now! Actionable Antitrust Advice for the Residential Real Estate Industry
Mar 27, 2024 by
CPI
Real Estate Commissions: Some Insights from the Economics of Multi-Sided Platforms
Mar 27, 2024 by
CPI
New Ideas for Promoting Real Estate Brokerage Price Competition
Mar 27, 2024 by
CPI