The Federal Trade Commission has sued online retailer SuperGoodDeals.com — claiming that it falsely promised consumers next-day shipping of facemasks and other personal protective equipment amid the COVID-19 pandemic. SuperGoodDeals’ website starting in March said PPE was “in stock,” and touted “Pay Today, Ships Tomorrow” — but it often took weeks for PPE merchandise to […]
U.K. probing Stryker-Wright Medical merger
The U.K. Competition and Markets Authority has begun an investigation into the proposed $4.7 billion merger of Stryker (NYSE:SYK) and Wright Medical (NSDQ:WMGI). Announced in November 2019, the merger would have Stryker pay $30.75 per share to acquire all of the issues and outstanding ordinary shares of Wright Medical. With outstanding convertible notes, total enterprise value is […]
AbbVie gains U.S. nod for $63B Allergan takeover
Pharmaceutical giant AbbVie (NYSE:ABBV) has won U.S. antitrust approval for its purchase of Allergan (NYSE:AGN) for $63 billion in cash and stock. The purchase is seen as a hedge against the impending expiration of U.S. patents on AbbVie’s blockbuster drug, Humira. North Chicago-based AbbVie announced the deal in June 2019, but ran up against U.S. […]
NeuroMetrix settles $4m false advertising case with FTC
Pain-treating TENS device company NeuroMetrix (NSDQ:NURO) has agreed to pay at least $4 million to settle a false advertising case brought by the Federal Trade Commission FTC. The commission said today that the Woburn, Mass.-based company also agreed to stop making deceptive claims that its Quell device treats pain throughout the body when placed below the […]
FDA, FTC want to encourage competition in biologics market
The FDA and U.S. Federal Trade Commission (FTC) announced today that they signed a joint statement to encourage collaboration in support of a robust marketplace for biological products, including the critical adoption of biosimilars and interchangeable products. The two agencies said the statement sets out to address false or misleading promotion about biosimilars within the […]
FTC upping scrutiny of proposed Stryker, Wright Medical merger
An SEC filing today showed that the Federal Trade Commission is upping its scrutiny of the proposed merger between Stryker (NYSE:SYK) and Wright Medical (NSDQ:WMGI) that is worth up to $4.7 billion in cash. After Stryker filed a premerger notification and report form with the FTC on Dec. 16, 2019, the FTC sent a second request to […]
FTC orders Otto Bock to divest Freedom Innovations assets from recent acquisition
The Federal Trade Commission yesterday upheld an Administrative Law Judge’s decision that stated assets in the acquisition of Freedom Innovations by Otto Bock Healthcare North America must be divested. The FTC ordered Otto Bock to divest the assets of Freedom Innovations to an FTC-approved buyer. According to the commission, both companies were top sellers of […]
Schein escapes FTC buying group probe
Henry Schein (NSDQ:HSIC) said yesterday that the U.S. Federal Trade Commission dismissed claims that it conspired with competitors to avoid giving discounts to buying groups representing dental practitioners. In February 2018, the FTC filed a complaint against Schein, Patterson (NSDQ:PDCO) and Benco alleging violations of U.S. antitrust law by conspiring to refuse to provide such discounts or to […]
FTC clears Boston Sci’s $4B purchase of BTG
The Federal Trade Commission has approved Boston Scientific’s $4 billion acquisition of British medtech company BTG (LON:BTG), according to a regulatory filing. Other antitrust authorities, such as the Federal Competition Authority of Austria and the National Authority for Markets and Competition in Spain, cleared the takeover in the past few weeks, according to the filing. […]
Judge orders Otto Bock to sell top U.S. microprocessor knee competitor
A judge has ordered prosthetics maker Otto Bock Healthcare North America to sell a competitor it acquired in 2017. Otto Bock (Austin, Texas) and smaller competitor Freedom Innovations (Irvine, Calif.) are the top U.S. sellers of microprocessor-equipped prosthetic knees, according to the U.S. Federal Trade Commission, which began seeking the divestiture shortly after the merger. […]
Stryker extends deadline on $1.4B K2M buy as shareholders sue
Stryker (NYSE:SYK) yesterday filed to extend the anti-trust deadline on its $1.4 billion acquisition of K2M (NSDQ:KTWO) to give the U.S. Federal Trade Commission more time to examine the deal, as shareholders filed suit to block the merger, K2M said today. The new FTC filing pushes the anti-monopoly waiting period out to Nov. 16, the Leesburg, Va.-based spinal […]
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