10. maj 2011, 10:00
Lundbeck’s Neoprofen Case “Could be Candidate for US Supreme Court”
A controversial antitrust case involving Danish pharma company Lundbeck could be on its way to the US Supreme court, “The Deal” business website writes.
Previously the U.S. Federal District Court in Minnesota ruled that the purchase of the rights to the heart drug Neoprofen drug did not lead to anticompetitive price increases. The complaint arose after the price of the drug rose by more than 1300 percent. Lundbeck had inherited the case in 2009 when it acquired Ovation Pharmaceuticals Inc. The Federal Trade Commission (FTC) is now appealing the decision.
However, according to “The Deal”, US Federal Trade Commissioner William Kovacic believes that a " serious need” exists for the Supreme Court to reexamine antitrust merger law, and the Lundbeck ruling could provide an ideal opportunity for a new test case.
"Since the mid-'70s, lower court decisions and federal enforcement policy have deviated significantly from standards the Supreme Court established in the '60s and early '70s” Kovakik said. “[Lundbeck] could provide the opportunity for the court to reconsider its earlier jurisprudence in [the] light of developments."
Neoprofen is used to treat premature babies with heart defects.
Kilde: Børsens News Service in English, 09-05-2011 17:22