News + Resources
FTC & DOJ Focus on ‘Nascent Competition’ Ignores Unique Market Dynamics in the Life Sciences
The Federal Trade Commission (FTC) and Department of Justice (DOJ) have increasingly focused on the impact that mergers and acquisitions (M&A) in the life sciences could have on “nascent competition” – the competition that might eventually exist between...
ITIF Report Finds Balanced Competition Policies Critical to Preserve U.S. Leadership in Biopharmaceutical Innovation
In its recent report “Not Again: Why the United States Can’t Afford to Lose its Biopharma Industry,” the Information Technology & Innovation Foundation (ITIF) highlights the important role of balanced competition policies in establishing and maintaining U.S....
A Timeline of the FTC & DOJ’s Flawed Approach to Life Sciences M&A
In recent years, the Federal Trade Commission (FTC) and Department of Justice (DOJ) have taken an increasingly aggressive approach towards life sciences mergers and acquisitions (M&A). This new approach not only represents a substantial pivot away from the...
On Capitol Hill, PULSE Partners Highlight Unique Importance of Life Sciences M&A
On February 29, PULSE partners from across the country met with policymakers on Capitol Hill to provide a real-world perspective on the critical role of pro-innovation mergers and acquisitions (M&A) and other collaborations in the life sciences industry. PULSE’s...
Overreach in M&A Enforcement: The Impact on Pro-Innovation Deals That Aren’t Ever Pursued
In recent months, the Federal Trade Commission (FTC) and Department of Justice (DOJ) have pursued an increasingly aggressive new approach towards mergers and acquisitions (M&A). Taken together, the Agencies’ recently finalized Merger Guidelines and proposed...
ICYMI – Law360: How Biotech Deals May Help Competition, Despite FTC View
In a recent commentary for Law 360, biopharma expert Michael Kinch and economists Jee-Yonn Lehmann and Frederico Mantovanelli rightly point out that biopharmaceutical mergers and acquisitions (M&A) and other collaborations play an important role in promoting...
Pro-Innovation M&A Allows Life Sciences Innovators to Weather the Significant Costs of R&D
Life sciences companies of all sizes face extended time and cost pressures as they work to bring new medicines to patients, as the average cost of research and development (R&D) can exceed $2.8 billion, and it can take more than 10-15 years to bring a new therapy...
Backgrounder: The Role of M&A Policy in the Life Sciences and its Impacts on Innovation
Mergers and acquisitions allow life sciences companies of all sizes to bring together the resources, investment and expertise needed to develop and deliver new treatments and cures for patients. Unfortunately, the latest merger guidelines and proposed premerger notification requirements issued by the Federal Trade Commission (FTC) and Department of Justice (DOJ) reflect a misguided approach that will prevent and deter pro-innovation M&A and disrupt our world-class American life sciences ecosystem.
Changes to HSR Premerger Rules Would Add Unnecessary Financial and Operational Barriers to Pro-Innovation M&A
The Hart-Scott-Rodino (HSR) Act requires companies to report information to the Federal Trade Commission (FTC) and Department of Justice (DOJ) before a planned merger or acquisition (M&A). Under the HSR Act, the agencies enforce premerger reporting requirements...
An Interview with AZBio President and CEO on Life Sciences M&A in Arizona
PULSE had a conversation with Joan Koerber-Walker, president and CEO of AZBio, which recently celebrated 20 years of supporting the growth of Arizona’s life science industry. Joan, who has led AZBio since 2011, has a vested interest in making Arizona a place where...