Over the past year, the pharmaceutical industry saw more than 300 deals worth in excess of $400 billion. The frenzy of activity presented antitrust agencies with numerous transactions that resulted in settlements to remedy concerns about their impact on competition.
Both the Federal Trade Commission and the U.S. Department of Justice have the authority to review pharmaceutical transactions that exceed the $78.2 million Hart-Scott-Rodino filing threshold. Notably, however, the pharmaceutical industry is one of the industries where it is most clear that one agency — the FTC — is responsible for investigating the proposed transactions. Beyond investigating Hart-Scott-Rodino-reportable pharmaceutical transactions, the FTC has shown a willingness to challenge even small, nonreportable pharmaceutical transactions.
