The FTC Case Against PBM Rebates
About a month ago, the Wall Street Journal reported that the Federal Trade Commission (FTC) was preparing an antitrust suit against the nation’s three largest pharmaceutical benefit managers (PBMs), the intermediaries who negotiate drug prices on behalf of insurers and who manage benefits for nearly nine in 10 insured Americans. This development followed a two-year ... The FTC Case Against PBM Rebates
The Law & Economics of the Capital One-Discover Merger
Capital One Financial announced plans late last month to acquire Discover Financial Services in a $35.3 billion deal that would give Capital One its own credit-card payment network, while simultaneously allowing the company to expand its deposit base, credit-card offerings, and rewards programs. Conversely, credit analysts like Matt Schulz of LendingTree note that “if Capital ... The Law & Economics of the Capital One-Discover Merger
Note to the FTC: Punishing Efficiency Means Destroying Competition
Yesterday, Lina Khan’s FTC released their long-awaited draft merger guidelines for public comment. Regrettably yet not unsurprisingly, the new guidelines are a radical departure from established case law and antitrust thinking. They’re marked by a failure to account for the role of efficiencies in the competitive process, and a failure to distinguish between the implications of generally ... Note to the FTC: Punishing Efficiency Means Destroying Competition
NLRB Targeting of Noncompetes Lacks a Sound Legal Foundation
Jennifer Abruzzo, general counsel of the National Labor Relations Board (NLRB), recently issued a memo claiming that certain noncompete clauses in labor contracts are illegal, on grounds that they violate employees’ right to organize and negotiate better working conditions under Section 7 of the National Labor Relations Act (NLRA). The NLRB isn’t the first Biden ... NLRB Targeting of Noncompetes Lacks a Sound Legal Foundation
