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Medtronic, Inc. and Covidien plc, In the Matter of
Global medical technology company Medtronic, Inc. agreed to divest the drug-coated balloon catheter business of Ireland-based medical products company Covidien plc, in order to settle FTC charges that its $42.9 billion acquisition of Covidien would likely be anticompetitive. Under the FTC’s proposed settlement, Medtronic will sell the drug-coated balloon catheter business to a Colorado-based medical device company, The Spectranetics Corporation. According to the FTC’s complaint, both Medtronic and Covidien are developing drug-coated balloon catheters to compete with C.R. Bard, Inc., which currently is the only company that supplies these products, used to treat peripheral artery disease, in the U.S. market. Medtronic and Covidien are the only companies with products in clinical trials in the Food and Drug Administration’s approval process, which makes it unlikely that other competitors could enter the market in time to counteract the effects of the merger.
Opinion: Antitrust Enforcement in Health Care – Controlling Costs, Improving Quality
FTC Requests Public Comments on Application from Owners of Surgery Center Holdings, Inc. for Approval to Divest Assets in Central Florida
PhRMA a/k/a Pharmaceutical Research and Manufacturers of America
FTC Staff Urges Dental Accreditation Commission To Adopt Dental Therapy Accreditation Standards
FTC Puts Conditions on Medtronic’s Proposed Acquisition of Covidien
FTC Requires Divestiture as a Condition of Surgery Center Holdings' Acquisition of Competitor Symbion
FTC Settlement Bans Bogus Trade Association from Selling Healthcare-Related Products
Prestige Brands Holdings, Inc. and Insight Pharmaceuticals Corporation, In the Matter of
Pharmaceutical company Prestige Brands Holdings, Inc., the maker of Dramamine, agreed to divest assets and marketing rights for the over-the-counter motion sickness drug Bonine to settle FTC charges that Prestige’s proposed acquisition of Insight Pharmaceuticals Corporation would likely be anticompetitive. Prestige proposed to acquire Insight for $750 million. According to the FTC’s complaint, Prestige’s Dramamine, which is the best-selling branded product in the market for over-the-counter motion-sickness drugs, and Insight’s Bonine, are the only two branded products with significant sales. Absent a remedy, the acquisition would eliminate the close competition between Dramamine and Bonine, likely leading to higher prices for consumers.
FTC Staff Comment: Proposed Dental Services Rules in Texas Would Likely Reduce the Benefits of Competition for Consumers
FTC Halts Fake Medicare Scheme that Took Money from Seniors’ Bank Accounts
Akorn, Inc., In the Matter of
Akorn, Inc. has agreed to sell its rights to develop, manufacture, and market the generic injectable tuberculosis drug, rifampin, in order to settle FTC charges that Akorn’s proposed acquisition of VersaPharm Inc. and its parent company, VPI Holdings Corp., would likely be anticompetitive. According to the FTC’s complaint, only VersaPharm and two other firms currently have FDA approval to sell generic injectable rifampin and there are no viable substitutes for rifampin as a course of treatment for tuberculosis. The FTC’s proposed settlement with Akorn requires the company to divest its Abbreviated New Drug Application for generic injectable rifampin – which is currently pending before the Food and Drug Administration – to Watson Laboratories, Inc.
FTC Stops Marketers of Phony Health Care ‘Discount’ Schemes Directed at Older Americans and Spanish-Speaking Consumers
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