Access to rival’s competitively sensitive information.While the Merger Guidelines apply to all mergers, certain of the new guidelines are particularly relevant for healthcare industry participants: 2 As discussed in detail in Goodwin’s client alert, these revised Merger Guidelines reflect the Agencies’ aggressive enforcement stance and skepticism of a variety of merger activity. On July 19, 2023, the Agencies published their long-anticipated draft Merger Guidelines. FTC and DOJ propose new Merger Guidelines In making these sweeping changes, the Agencies argue that previous policies cannot adequately protect competition under current market conditions and as a result the Agencies need new tools to challenge mergers and discourage acquisitions. The Federal Trade Commission (FTC) and Antitrust Division of the Department of Justice (DOJ, and, collectively with the FTC, the Agencies) are implementing dramatic revisions to existing merger enforcement policies, withdrawing long-standing guidance and procedures, and proposing new, more aggressive standards. Agencies drastically revise Merger Guidelines and HSR process while withdrawing long-established antitrust healthcare guidance Further, two states enacted notification laws for healthcare transactions that will require additional information and extend the timeline for regulatory approval. Beyond merger review, the FTC has not relented in its focus on state COPA laws, which may intensify enforcement actions in this space.The FTC continued to challenge major healthcare mergers, including the ongoing challenge to Illumina/Grail and a new challenge to IQVIA/Propel.Pressure on PBMs continued to mount as the FTC expanded its study of the industry and withdrew previous advocacy statements and market studies related to PBMs.In the second quarter, the US antitrust agencies continued efforts to bolster their aggressive enforcement agenda by rewriting long-standing policies and procedures, including sweeping revisions to Merger Guidelines, significant changes to the HSR filing process, and withdrawing long-established antitrust healthcare guidance.
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