The Federal Trade Commission has closed its investigation into Johnson & Johnson’s proposed acquisition of the fibrin sealant surgical patch TachoSil from Takeda Pharmaceutical Company.
“Staff of the Bureau of Competition and Bureau of Economics thoroughly investigated Johnson & Johnson’s proposed acquisition of Takeda’s surgical patch, TachoSil,” said FTC Chairman Joseph Simons. “The investigation focused on the potential loss of competition between TachoSil and Johnson & Johnson’s Evarrest—the only two fibrin sealant patches approved in the United States to stop bleeding during surgery. As a result of that investigation, staff had significant concerns about the likely anticompetitive effects and had recommended that the Commission block the transaction. Now that the deal has been abandoned, patients and surgeons will continue to benefit from competition between these life-saving devices.”
Throughout the investigation, FTC staff cooperated closely with staff of the European Commission’s DG Competition.
The Commission had previously denied a motion to quash compulsory process filed by the parties. The Commission vote to close the investigation was 5-0.
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