To date, 2024 has not yet seen the type of mega-merger (Pfizer/Seagen) or level of agency enforcement (Sanofi/Maze or Amgen/Horizon) as 2023. But two notable investigations — one still active — show the Federal Trade...more
9/10/2024
/ AbbVie ,
Abuse of Dominance ,
Acquisitions ,
Amgen ,
Antitrust Investigations ,
Antitrust Provisions ,
Eli Lilly ,
EU ,
European Commission ,
Federal Trade Commission (FTC) ,
Food and Drug Administration (FDA) ,
Horizontal Mergers ,
Life Sciences ,
Mergers ,
Orange Book ,
Patents ,
Pfizer ,
Pharmaceutical Industry ,
Pharmacy Benefit Manager (PBM) ,
Popular ,
Sanofi ,
Supply Chain ,
Vertical Mergers
Despite increasingly aggressive rhetoric from the agencies, 2022 was largely characterized as “business as usual” in the antitrust world. In contrast, 2023 featured a significant step up in enforcement activity, including...more
2/23/2024
/ Acquisitions ,
Amgen ,
Anti-Competitive ,
Antitrust Provisions ,
Bristol-Myers Squibb ,
Clinical Trials ,
Competition ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
IP License ,
Life Sciences ,
Monopolization ,
Pfizer ,
Pharmaceutical Industry ,
Sanofi
On December 18, 2023, the Federal Trade Commission (FTC) and the Antitrust Division of the Department of Justice (DOJ) (each an Agency, and collectively, the Agencies) released the final version of revised Merger Guidelines...more
The FTC’s Amgen/Horizon Lawsuit Ends With a Whimper -
We covered the FTC’s investigation into (and litigation challenging) Amgen’s $28.3 billion acquisition of rare disease specialist Horizon Therapeutics in our Q1 and...more
10/24/2023
/ Acquisitions ,
Antitrust Provisions ,
Clinical Trials ,
Draft Guidance ,
Enforcement ,
Hart-Scott-Rodino Act ,
Life Sciences ,
Mergers ,
Pfizer ,
Pharmaceutical Industry ,
Popular ,
Settlement
The second quarter saw significant enforcement and dealmaking in the life sciences space. The Federal Trade Commission (FTC) announced its attempt to block Amgen/Horizon, the first such challenge to a life science transaction...more
2022 saw a major uptick in antitrust scrutiny and enforcement, primarily related to vertical transactions by large technology companies. Meta/Within, Microsoft/Activision, and Broadcom/VMware (among others) faced resistance...more
2/22/2023
/ Acquisitions ,
Anti-Competitive ,
Antitrust Provisions ,
Broadcom ,
Competition ,
Federal Trade Commission (FTC) ,
Horizontal Mergers ,
Mergers ,
Microsoft ,
Popular ,
Technology ,
Technology Sector ,
UK Competition and Markets Authority (CMA)
M&A activity in the life sciences space proceeded largely as usual in 2022, with most transactions receiving expected levels of agency scrutiny and closing in the normal course despite aggressive rhetoric from new leadership...more
2/22/2023
/ Acquisitions ,
Amgen ,
Antitrust Provisions ,
Biotechnology ,
Bristol-Myers Squibb ,
Department of Justice (DOJ) ,
Federal Trade Commission (FTC) ,
GlaxoSmithKline ,
Life Sciences ,
Mergers ,
Novo Nordisk ,
Pfizer ,
Pharmaceutical Industry ,
Popular ,
Risk Management
Summary -
..The FTC and DOJ suffered twin setbacks in the healthcare space. In both UnitedHealth/Change and Illumina/Grail, the agencies’ reliance on more novel theories of harm failed to convince skeptical judges....more
11/11/2022
/ Antitrust Division ,
Antitrust Provisions ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Health Care Providers ,
Horizontal Merger Guidelines ,
Horizontal Mergers ,
Hospitals ,
Mergers ,
Popular ,
Private Equity ,
Vertical Mergers
The third quarter in the life sciences space showed that business is generally proceeding as usual, with large pharma players successfully acquiring or licensing in clinical stage assets without running into antitrust delays....more
11/10/2022
/ Acquisitions ,
Antitrust Division ,
Antitrust Provisions ,
Bristol-Myers Squibb ,
Competition ,
Department of Justice (DOJ) ,
Federal Trade Commission (FTC) ,
GlaxoSmithKline ,
Health Technology ,
Life Sciences ,
Mergers ,
Metadata ,
Mobile Apps ,
Pfizer ,
Pharmaceutical Industry ,
Popular ,
Virtual Reality