Washington, D.C. – In response to the final Hart-Scott-Rodino (HSR) premerger notification rules released today by the Federal Trade Commission (FTC), the Partnership for the U.S. Life Science Ecosystem (PULSE) released the following statement:
While we appreciate the agency’s steps to address some operational challenges with the HSR premerger notification rules as proposed, the final HSR rules could undermine the competitive life science ecosystem that is responsible for delivering biopharmaceutical breakthroughs for millions of Americans each year. Those bearing the brunt of these new restrictions are small, early-stage companies in the U.S. which not only make up the vast majority – more than 85 percent – of the world’s biopharmaceutical companies, but which also frequently operate without a profit. These flawed policies could further stifle the pro-competitive, innovative life science ecosystem that has been a driving force of economic growth and medical advancements in the U.S. for decades.