Showing archive for: “Harm to Competition”
Understanding government negotiation of Medicare drug prices
In a weekend interview with the Washington Post, Donald Trump vowed to force drug companies to negotiate directly with the government on prices in Medicare and Medicaid. It’s unclear what, if anything, Trump intends for Medicaid; drug makers are already required to sell drugs to Medicaid at the lowest price they negotiate with any other buyer. ... Understanding government negotiation of Medicare drug prices
What’s next for the pharmaceutical industry?
On November 9, pharmaceutical stocks soared as Donald Trump’s election victory eased concerns about government intervention in drug pricing. Shares of Pfizer rose 8.5%, Allergan PLC was up 8%, and biotech Celgene jumped 10.4%. Drug distributors also gained, with McKesson up 6.4% and Express Scripts climbing 3.4%. Throughout the campaign, Clinton had vowed to take on ... What’s next for the pharmaceutical industry?
Competition Policy for a New Administration
As Truth on the Market readers prepare to enjoy their Thanksgiving dinners, let me offer some (hopefully palatable) “food for thought” on a competition policy for the new Trump Administration. In referring to competition policy, I refer not just to lawsuits directed against private anticompetitive conduct, but more broadly to efforts aimed at curbing government ... Competition Policy for a New Administration
FCC Chairman Wheeler’s claimed fealty to FTC privacy standards is belied by the rules he actually proposes
Next week the FCC is slated to vote on the second iteration of Chairman Wheeler’s proposed broadband privacy rules. Of course, as has become all too common, none of us outside the Commission has actually seen the proposal. But earlier this month Chairman Wheeler released a Fact Sheet that suggests some of the ways it ... FCC Chairman Wheeler’s claimed fealty to FTC privacy standards is belied by the rules he actually proposes
A critical assessment of the latest charge of Google’s anticompetitive bias from Yelp and Tim Wu
Today ICLE released a white paper entitled, A critical assessment of the latest charge of Google’s anticompetitive bias from Yelp and Tim Wu. The paper is a comprehensive response to a study by Michael Luca, Timothy Wu, Sebastian Couvidat, Daniel Frank, & William Seltzer, entitled, Is Google degrading search? Consumer harm from Universal Search. The Wu, et al. ... A critical assessment of the latest charge of Google’s anticompetitive bias from Yelp and Tim Wu
Justice Department Ignores the Benefits of Contracting Freedom in its Crabbed Reading of Music Distribution Decrees
The Antitrust Division of the U.S. Department of Justice (DOJ) ignored sound law and economics principles in its August 4 decision announcing a new interpretation of seventy-five year-old music licensing consent decrees it had entered into separately with the two major American “performing rights organizations” (PROs) — the American Society of Composers, Authors, and Publishers ... Justice Department Ignores the Benefits of Contracting Freedom in its Crabbed Reading of Music Distribution Decrees
Senator Lee’s prescription for regulatory failure in the generic drug market
Brand drug manufacturers are no strangers to antitrust accusations when it comes to their complicated relationship with generic competitors — most obviously with respect to reverse payment settlements. But the massive and massively complex regulatory scheme under which drugs are regulated has provided other opportunities for regulatory legerdemain with potentially anticompetitive effect, as well. In ... Senator Lee’s prescription for regulatory failure in the generic drug market
Legatum Institute Publishes an Eye-Opening Case Study on the Benefits of Eliminating Anticompetitive Market Distortions (ACMDs) in India
In a recent Truth on the Market blog posting, I summarized the discussion at a May 17 Heritage Foundation program on the problem of anticompetitive market distortions (ACMDs), featuring Shanker Singham of the Legatum Institute (a market-oriented London think tank) and me. The program highlighted the topic of anticompetitive government-imposed laws and regulations (which Singham ... Legatum Institute Publishes an Eye-Opening Case Study on the Benefits of Eliminating Anticompetitive Market Distortions (ACMDs) in India
The Third Circuit pushes back on FCC’s unjustified rule on joint sales agreements
While we all wait on pins and needles for the DC Circuit to issue its long-expected ruling on the FCC’s Open Internet Order, another federal appeals court has pushed back on Tom Wheeler’s FCC for its unremitting “just trust us” approach to federal rulemaking. The case, round three of Prometheus, et al. v. FCC, involves ... The Third Circuit pushes back on FCC’s unjustified rule on joint sales agreements
Combatting Anticompetitive Market Distortions: An Update
I have previously written at this site (see here, here, and here) and elsewhere (see here, here, and here) about the problem of anticompetitive market distortions (ACMDs), government-supported (typically crony capitalist) rules that weaken the competitive process, undermine free trade, slow economic growth, and harm consumers. On May 17, the Heritage Foundation hosted a presentation ... Combatting Anticompetitive Market Distortions: An Update
Acknowledging the Limitations of the FTC’s “PAE” Study
[Below is an excellent essay by Devlin Hartline that was first posted at the Center for the Protection of Intellectual Property blog last week, and I’m sharing it here.] ACKNOWLEDGING THE LIMITATIONS OF THE FTC’S “PAE” STUDY By Devlin Hartline The FTC’s long-awaited case study of patent assertion entities (PAEs) is expected to be released this spring. ... Acknowledging the Limitations of the FTC’s “PAE” Study
Competition, not Price Controls
In an effort to control drug spending, several states are considering initiatives that will impose new price controls on prescription drugs. Ballot measures under consideration in California and Ohio will require drug companies to sell drugs under various state programs at a mandated discount. And legislators in Massachusetts and Pennsylvania have drafted bills that would create new government commissions ... Competition, not Price Controls
