Sen­a­tors to FTC: Don't let the big Cel­gene and Al­ler­gan buy­outs hurt R&D and con­sumers

The phar­ma­ceu­ti­cal in­dus­try has been merg­ing like Porsches on the Au­to­bahn of late, rais­ing con­cerns from unions and con­sumer groups that a grow­ing oli­gop­oly is pro­mot­ing an­ti-com­pet­i­tive prac­tices.

Now the merg­ers have pro­voked the ire of US law­mak­ers as eight De­mo­c­ra­t­ic sen­a­tors and one wily-haired in­de­pen­dent have writ­ten a let­ter to the Fed­er­al Trade Com­mis­sion ask­ing the reg­u­la­to­ry agency to crack­down and specif­i­cal­ly scru­ti­nize two pend­ing deals: Ab­b­Vie’s $63 bil­lion bid for Al­ler­gan and Bris­tol-My­ers Squibb pro­posed $74 bil­lion ac­qui­si­tion of Cel­gene.

Endpoints News

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.