Senators urge FTC to closely scrutinize drug company mergers

Sens. Amy Klobuchar, D-Minn.; Richard Blumenthal, D-Conn.; Cory Booker, D-N.J.; Mazie Hirono, D-Hawaii; Kamala Harris, D-Calif.; Elizabeth Warren, D-Mass.; Tammy Baldwin, D-Wash.; Tina Smith, D-Minn.; and Bernie Sanders, I-Vt.; yesterday urged the Federal Trade Commission to closely scrutinize pharmaceutical mergers. “In just the first half of 2019, we have seen multi-billion dollar acquisitions announced by Pfizer and Roche in addition to the proposed AbbVie and Bristol-Myers deals,” they wrote. “And reports indicate that pharmaceutical mergers and acquisitions are expected to increase. This industry consolidation is occurring against a backdrop of ever rising prescription drug spending and reports that one in four people taking prescription drugs have difficulty affording their medication. It is more important than ever that the FTC take appropriate action to protect consumers from acquisitions that may threaten competition in drug markets, raise drug prices, or reduce patient access to essential medications.”