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From Competition To Conspiracy
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Book Synopsis From Competition to Conspiracy by : Diana L. Moss
Download or read book From Competition to Conspiracy written by Diana L. Moss and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prescription drugs safeguard Americans from numerous life-threatening maladies. Competition in pharmaceutical R&D, and for generic entry, produces essential drugs and ensures that medications are accessible and affordable. That promise is fading. There is mounting evidence that connects high market concentration and high drug prices. Price gouging for important drugs, conspiracies to fix generic drug prices, and ever more innovative schemes by branded drug manufacturers to keep generic rivals out of the market put merger control at center stage.The AAI White Paper “From Competition to Conspiracy: Accessing the Federal Trade Commission's Merger Policy in the Pharmaceutical Sector” examines a major root of this problem--the Federal Trade Commission's (FTC's) policy of settling virtually all challenged horizontal pharmaceutical mergers with consent orders requiring divestitures. This stands in contrast to agency decisions to seek injunctions to stop highly concentrative, harmful mergers--arguably the most effective remedy for fully restoring competition. AAI's macro-analysis of pharmaceutical mergers challenged by the FTC between 1994-2020 (to date) reveals that many drug makers engaged in serial mergers and/or repeatedly went to the till to purchase divestiture assets in other challenged mergers. Many of these firms were subsequently acquired by other pharmaceutical manufacturers, sometimes shortly after purchasing divestiture assets.The effect of the FTC's policy has been the swapping of assets within a relatively small group of large and increasingly powerful firms. Just under 20% of all unique branded and generic firms that engaged in repeated mergers and acquisitions (M&A) and/or purchases of divestiture assets account for almost 45% of pharmaceutical assets “changing hands” from 1994-2020. Many of the very firms that were the most active in M&A, and as purchasers of divestiture assets, appear as defendants in private, state, and federal non-merger antitrust litigations and in federal criminal indictments. These accumulating lawsuits serve as powerful evidence that something has gone awry with merger policy in the pharmaceutical sector, leading to the exercise of market power by dominant firms and oligopolies.The FTC's role in managing the allocation and ownership of important pharmaceutical assets through its extraordinary approach toward merger control has unduly involved it in shaping the industry. This resembles a form of “industrial planning” rather than antitrust law enforcement, which is designed to deter future anticompetitive conduct and relies on market forces to determine market structures. The FTC's policy has also deprived the antitrust community and public of important transparency. Because no challenged merger between 1994-2020 was litigated in federal court, there is no judicial record detailing how highly concentrative mergers were likely to have survived a presumption of illegality. There is thus no way to evaluate claims that pharmaceutical mergers were likely to have delivered lower prices through claimed cost savings or consumer benefits due to improved quality and innovation.This White Paper begins with background on drug pricing and competition in the pharmaceutical supply chain. It then turns to the drug mergers themselves and the asset divestitures required in FTC consent orders. Next is an assessment of private, state, and federal antitrust cases against the companies involved in M&A and as buyers of divestiture assets. It concludes with policy recommendations on reframing competition policy in the pharmaceutical sector. The FTC, which has devoted considerable resources and expertise to understanding the pharmaceutical sector, should take the lead in reforming its own policy on merger control.Competition problems in pharmaceuticals now rise to the level a public policy concern, addressable only through a coordinated policy response, of which stronger antitrust enforcement and legislative reform should be central components. The imperative for wholesale change in the FTC's merger policy in the pharmaceutical sector is more pressing than ever. Only robust competition among drug makers will result in the availability and affordability of drugs more generally, but also essential drug therapies and vaccines relating to the COVID-19 pandemic.
Book Synopsis Cartels and Economic Collusion by : Michael A. Utton
Download or read book Cartels and Economic Collusion written by Michael A. Utton and published by Edward Elgar Publishing. This book was released on 2011-01-01 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: Adam Smith warned of the prevalence of corporate conspiracies more than two hundred years ago. Since then, interest in cartels has sometimes intensified (during the Great Depression, for example) and sometimes diminished, but the need for control has always remained on the antitrust agenda. This well-documented book reviews the economic case against corporate collusion, as well as the arguments made for a more permissive attitude. A survey of recent empirical research reveals not only the prevalence of a wide range of international cartels but also the size of the inefficiencies and costs that they impose on customers and consumers. The antitrust reaction has therefore intensified with greatly increased fines being imposed by the US, the EU and other authorities. At the same time, they have developed sophisticated leniency polices with the aim of destabilizing the illegal conspiracies. After reviewing these measures, the author concludes with the hope that this toughened approach is not modified or reversed during periods of recession.
Author :American Bar Association. Section of Antitrust Law Publisher :American Bar Association ISBN 13 :9781616327729 Total Pages :316 pages Book Rating :4.3/5 (277 download)
Book Synopsis Proof of conspiracy under federal antitrust laws by : American Bar Association. Section of Antitrust Law
Download or read book Proof of conspiracy under federal antitrust laws written by American Bar Association. Section of Antitrust Law and published by American Bar Association. This book was released on with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis United States v. Apple by : Chris Sagers
Download or read book United States v. Apple written by Chris Sagers and published by Harvard University Press. This book was released on 2019-09-17 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most-followed antitrust cases of recent times—United States v. Apple—reveals an often-missed truth: what Americans most fear is competition itself. In 2012 the Department of Justice accused Apple and five book publishers of conspiring to fix ebook prices. The evidence overwhelmingly showed an unadorned price-fixing conspiracy that cost consumers hundreds of millions of dollars. Yet before, during, and after the trial millions of Americans sided with the defendants. Pundits on the left and right condemned the government for its decision to sue, decrying Amazon’s market share, railing against a new high-tech economy, and rallying to defend beloved authors and publishers. For many, Amazon was the one that should have been put on trial. But why? One fact went unrecognized and unreckoned with: in practice, Americans have long been ambivalent about competition. Chris Sagers, a renowned antitrust expert, meticulously pulls apart the misunderstandings and exaggerations that industries as diverse as mom-and-pop grocers and producers of cast-iron sewer pipes have cited to justify colluding to forestall competition. In each of these cases, antitrust law, a time-honored vehicle to promote competition, is put on the defensive. Herein lies the real insight of United States v. Apple. If we desire competition as a policy, we must make peace with its sometimes rough consequences. As bruising as markets in their ordinary operation often seem, letting market forces play out has almost always benefited the consumer. United States v. Apple shows why supporting cases that protect price competition, even when doing so hurts some of us, is crucial if antitrust law is to protect and maintain markets.
Book Synopsis Revealing Schemes by : Scott Radnitz
Download or read book Revealing Schemes written by Scott Radnitz and published by Oxford University Press. This book was released on 2021-05-18 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conspiracy theories are not just outlandish ideas. They can also be political weapons. Conspiracy theories have come to play an increasingly prominent role in political systems around the world. In Revealing Schemes, Scott Radnitz moves beyond psychological explanations for why people believe conspiracy theories to explore the politics surrounding them, placing two questions at the center of his account: What leads regimes to promote conspiracy claims? And what effects do those claims have on politics and society? Focusing on the former Soviet Uniona region of the world where such theories have long thrivedhe shows that incumbent politicians tend to make conspiracy claims to demonstrate their knowledge and authority at moments of uncertainty and threat. They emerge more often where there is serious political competition rather than unbridled autocracy and in response to events that challenge a regime's ability to rule. Yet conspiracy theories can also be habit-forming and persist as part of an official narrative even where immediate threats have subsideda strategy intended to strengthen regimes, but that may inadvertently undermine them. Revealing Schemes explores the causes, consequences, and contradictions of conspiracism in politics with an original collection of over 1,500 conspiracy claims from across the post-Soviet region, two national surveys, and 12 focus groups. At a time of heightened distrust in democratic institutions and rising illiberal populism around the world, understanding how conspiracy theories operate in a region where democracy came lateor never arrivedcan be instructive for concerned citizens everywhere.
Book Synopsis The Great Price Conspiracy by : John Herling
Download or read book The Great Price Conspiracy written by John Herling and published by . This book was released on 1962 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Proof of Conspiracy Under Federal Antitrust Laws by :
Download or read book Proof of Conspiracy Under Federal Antitrust Laws written by and published by . This book was released on 2018 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Big Business and the Policy of Competition by : Corwin D. Edwards
Download or read book Big Business and the Policy of Competition written by Corwin D. Edwards and published by Cleveland : Press of Western Reserve University. This book was released on 1956 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Business and Commerce Code by : Texas
Download or read book Business and Commerce Code written by Texas and published by . This book was released on 1968 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Violin Conspiracy by : Brendan Slocumb
Download or read book The Violin Conspiracy written by Brendan Slocumb and published by Anchor. This book was released on 2022-02-01 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: GOOD MORNING AMERICA BOOK CLUB PICK! • Ray McMillian is a Black classical musician on the rise—undeterred by the pressure and prejudice of the classical music world—when a shocking theft sends him on a desperate quest to recover his great-great-grandfather’s heirloom violin on the eve of the most prestigious musical competition in the world. “I loved The Violin Conspiracy for exactly the same reasons I loved The Queen’s Gambit: a surprising, beautifully rendered underdog hero I cared about deeply and a fascinating, cutthroat world I knew nothing about—in this case, classical music.” —Chris Bohjalian, #1 New York Times bestselling author of The Flight Attendant and Hour of the Witch Growing up Black in rural North Carolina, Ray McMillian’s life is already mapped out. But Ray has a gift and a dream—he’s determined to become a world-class professional violinist, and nothing will stand in his way. Not his mother, who wants him to stop making such a racket; not the fact that he can’t afford a violin suitable to his talents; not even the racism inherent in the world of classical music. When he discovers that his beat-up, family fiddle is actually a priceless Stradivarius, all his dreams suddenly seem within reach, and together, Ray and his violin take the world by storm. But on the eve of the renowned and cutthroat Tchaikovsky Competition—the Olympics of classical music—the violin is stolen, a ransom note for five million dollars left in its place. Without it, Ray feels like he's lost a piece of himself. As the competition approaches, Ray must not only reclaim his precious violin, but prove to himself—and the world—that no matter the outcome, there has always been a truly great musician within him.
Book Synopsis The Antitrust Paradox by : Robert Bork
Download or read book The Antitrust Paradox written by Robert Bork and published by . This book was released on 2021-02-22 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.
Book Synopsis Power, Politics, and Paranoia by : Jan-Willem van Prooijen
Download or read book Power, Politics, and Paranoia written by Jan-Willem van Prooijen and published by Cambridge University Press. This book was released on 2014-05-29 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: Powerful societal leaders - such as politicians and Chief Executives - are frequently met with substantial distrust by the public. But why are people so suspicious of their leaders? One possibility is that 'power corrupts', and therefore people are right in their reservations. Indeed, there are numerous examples of unethical leadership, even at the highest level, as the Watergate and Enron scandals clearly illustrate. Another possibility is that people are unjustifiably paranoid, as underscored by some of the rather far-fetched conspiracy theories that are endorsed by a surprisingly large portion of citizens. Are societal power holders more likely than the average citizen to display unethical behaviour? How do people generally think and feel about politicians? How do paranoia and conspiracy beliefs about societal power holders originate? In this book, prominent scholars address these intriguing questions and illuminate the many facets of the relations between power, politics and paranoia.
Download or read book Antitrust Law written by Phillip Areeda and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Federal Anti-trust Decisions by : United States. Courts
Download or read book Federal Anti-trust Decisions written by United States. Courts and published by . This book was released on 1918 with total page 638 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Federal Anti-trust Decisions written by and published by . This book was released on 1918 with total page 636 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pharma written by Gerald Posner and published by Simon and Schuster. This book was released on 2020-03-10 with total page 816 pages. Available in PDF, EPUB and Kindle. Book excerpt: Award-winning journalist and New York Times bestselling author Gerald Posner reveals the heroes and villains of the trillion-dollar-a-year pharmaceutical industry and delivers “a withering and encyclopedic indictment of a drug industry that often seems to prioritize profits over patients (The New York Times Book Review). Pharmaceutical breakthroughs such as antibiotics and vaccines rank among some of the greatest advancements in human history. Yet exorbitant prices for life-saving drugs, safety recalls affecting tens of millions of Americans, and soaring rates of addiction and overdose on prescription opioids have caused many to lose faith in drug companies. Now, Americans are demanding a national reckoning with a monolithic industry. “Gerald’s dogged reporting, sets Pharma apart from all books on this subject” (The Washington Standard) as we are introduced to brilliant scientists, incorruptible government regulators, and brave whistleblowers facing off against company executives often blinded by greed. A business that profits from treating ills can create far deadlier problems than it cures. Addictive products are part of the industry’s DNA, from the days when corner drugstores sold morphine, heroin, and cocaine, to the past two decades of dangerously overprescribed opioids. Pharma also uncovers the real story of the Sacklers, the family that became one of America’s wealthiest from the success of OxyContin, their blockbuster narcotic painkiller at the center of the opioid crisis. Relying on thousands of pages of government and corporate archives, dozens of hours of interviews with insiders, and previously classified FBI files, Posner exposes the secrets of the Sacklers’ rise to power—revelations that have long been buried under a byzantine web of interlocking companies with ever-changing names and hidden owners. The unexpected twists and turns of the Sackler family saga are told against the startling chronicle of a powerful industry that sits at the intersection of public health and profits. “Explosively, even addictively, readable” (Booklist, starred review), Pharma reveals how and why American drug companies have put earnings ahead of patients.
Book Synopsis Global Price Fixing by : John M. Connor
Download or read book Global Price Fixing written by John M. Connor and published by Springer Science & Business Media. This book was released on 2013-12-01 with total page 611 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some books get written, others write themselves. This book is the latter type. I have devoted myselfto studying the economic organization of industries related to food and agriculture for almost twenty-five years. It has been my good fortune to work at places that tolerated my gadfly approach to research. So long as I produced a few publications each year and wooed a few graduate students to share those interests, I was free to pursue an array of topics: why firms diversifY, the competitive role of advertising, strategies for selling in overseas markets, measuring market power, and many others. Although firmly anchored in the eclectic analytical framework of industrial economics and focused on the food system, I traversed a wide field at will. Some years ago, I had pretty much convinced myself that naked price fixing was not a high priority for scholarship in these industries. True, collusion was rife in a few food industries, such as bid-rigging among suppliers of fluid milk to school districts in isolated rural districts. Ripping off milk money from school children is reprehensible enough, but the size of the economic losses from localized price fixing paled besides other sources of imperfect competition.
