The Federal Trade Commission (FTC) revealed that it provided testimony before the US Senate Subcommittee on Antitrust, Competition Policy and Consumer Rights on Tuesday, September 17.
During his testimony, FTC Chairman Joseph J. Simons revealed the agency’s recent successes in preventing anticompetitive mergers and conduct, as well as its significant policy initiatives, advocacy work, and engagement with antitrust enforcement agencies in other countries.
Last year, the agency worked to protect consumers in 22 merger cases in a variety of industries, including obtaining preliminary injunctions in two federal court merger cases. And in two other potential mergers, the parties abandoned their plans after the FTC voted to start litigation.
Other successes include the agency’s unanimous vote in March that Impax Laboratories and Endo Pharmaceuticals had entered into a reverse payment arrangement that delayed entry of generic competition for Opana ER, an extended release opioid for pain relief.
The FTC also sued to stop Evonik Industries AG’s proposed acquisition of PeroxyChem Holding company because it believed the merger would stifle competition in the Pacific Northwest and the southern and central United States for the production and sale of hydrogen peroxide.
The FTC also filed an administrative complaint to block the merger of title insurance providers Fidelity National Financial and Stewart Information Services, leading the companies to cancel the transac
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