Bristol-Myers Squibb’s $74 billion buyout of Celgene Corp and AbbVie Inc’s $63 billion bid for troubled smaller rival Allergan Plc were among the largest deals announced this year. The deals proposed by AbbVie and Bristol-Myers raise significant antitrust issues, the senators wrote, calling on the FTC to “take appropriate action” to protect consumers from mergers that may threaten competition, raise drug prices or reduce patient access to essential medications. “This industry consolidation is occurring against a backdrop of ever rising prescription drug spending… It is more important than ever that the FTC take appropriate action to protect consumers,” Klobuchar wrote in the letter signed by senators Bernie Sanders, Kamala Harris, Elizabeth Warren and Cory Booker among others.

source https://finance.yahoo.com/news/u-senators-urge-ftc-scrutinize-200544966.html?.tsrc=rss