BIO FILES AMICUS BRIEF CHALLENGING FTC’S OVERREACH ON MERGER ENFORCEMENT THAT THREATENS DRUG DEVELOPMENT INNOVATION

BIO released the following statement from John Delacourt, BIO’s Deputy General Counsel, on BIO’s amicus brief opposing the Federal Trade Commission (FTC) lawsuit to block the acquisition of Horizon by Amgen:

“The FTC’s current overreach in antitrust merger enforcement is of great concern to BIO and its members. Recent actions indicate a shift away from 40 years of FTC decisions that supported an ecosystem delivering life-saving treatments to patients. We filed this amicus brief to challenge the FTC’s sudden focus on restricting mergers and acquisitions in the biotech industry, creating an environment that chills investment for new, cutting-edge therapies. It is throwing a boulder on the tracks of a speeding train, disrupting a longstanding business model that depends on acquisitions to drive innovation.”