WASHINGTON, D.C.– This past week, FreedomWorks Foundation and activists from 25 states filed comments before the Federal Trade Commission (FTC). Along with its international counterparts, the Justice Department, and state attorneys general, the FTC requested public input on evaluating pharmaceutical mergers. Steve Moore, FreedomWorks Senior Economist, commented:
“In its comment, FWF noted that mergers and acquisitions receive tremendous governmental scrutiny at the federal level and potentially international and state levels, and the government has the tools it needs to block problematic mergers.
“The FTC did not indicate any reason why creating new standards for just one industry–pharmaceuticals–is necessary. If it’s not broken, why is the government trying to fix it and inject uncertainty into the pharma industry? Uncertainty is the enemy of innovation and investment, which are vital for pharmaceutical companies to continue to develop life-saving products.”
The formal comments can be found here.
FreedomWorks Letter to Congress in Support of Fiscal Commision Act (H.R. 5779)