The Antitrust Week In Review
Here are some of the developments in antitrust news this past week that we found interesting and are following.
New York Attorney General Launches Antitrust Probe of Mylan’s EpiPen Contracts. New York state’s attorney general on Tuesday opened an investigation into pharmaceuticals giant Mylan, focused on its contracts with local school systems to buy its lifesaving EpiPens. The skyrocketing price of those auto-injection devices, used to counteract potentially fatal allergic reactions, has drawn intense criticism of the company this summer. The office of Attorney General Eric Schneiderman said it launched its probe after a preliminary review revealed Mylan might have inserted anti-competitive terms into its deals to sell EpiPens.
Mastercard Sued for 14 Billion Pounds in Britain’s Biggest Damages Claim. About 46 million people in Britain could potentially benefit from a legal case brought against Mastercard demanding 14 billion pounds ($19 billion) in damages for allegedly charging excessive fees, according to court documents filed in London. The case brought by a former chief financial services ombudsman alleges the payments company set unlawfully high fees charged to stores when shoppers swipe their debit or credit cards that were passed on to consumers in higher prices. Mastercard was accused of doing this for 16 years between 1992 and 2008, according to the documents filed at the Competition Appeal Tribunal on Thursday.
Google Given More Time to Reply to EU Antitrust Charge on Android. Alphabet’s Google has been given two more weeks to counter EU antitrust charges that it uses its dominant Android mobile operating system to block competitors, the European Commission said on Thursday. The EU competition enforcer in April accused the U.S. technology giant of harming consumers because of its demand that mobile phone makers pre-install Google Search and the Google Chrome browser on their smartphones to access other Google apps. Google was initially given until July 27 to respond to the charges but asked for an extension to Sept. 7.
As US Puts Breaks on Megadeals, Walgreens Prepares to Unload. Walgreens believes that it will probably have to unload more stores than expected to ease antitrust concerns over its pending, $9.41 billion acquisition of Rite Aid, a deal that would make the nation’s largest drugstore chain even larger. While it still expects to complete the acquisition this year, the Deerfield, Illinois, company said Thursday that it will probably have to divest more than 500 stores. The company previously said that it expected to divest 500 or fewer.
Tagged in: Antitrust Enforcement, Antitrust Litigation, International Competition Issues,