FTC concludes antitrust investigation of $900M SAES-Resonetics nitinol deal

Nitinol is used for a variety of medtech applications. [Photo via Adobe Stock]

The Federal Trade Commission has closed its antitrust investigation into Resonetics’ planned $900 million purchase of the SAES Getters medical nitinol business.

Milan, Italy-based SAES said it and Resonetics “will define the timing to finalize the closing of the transaction” in the coming days and will provide further updates.

The company did not say whether the FTC will allow the sale without conditions, but it doesn’t sound like the agency or the Department of Justice will sue over the transaction. More information was not immediately available.

Nashua, New Hampshire-based Resonetics signed a binding agreement in January 2023 to buy the medical nitinol division from SAES, including U.S. subsidiaries Memry Corp. and SAES Smart Materials. The business supplies medical device manufacturers with ra…

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Boston Scientific whistleblower launches corruption investigation

Boston Scientific (NYSE:BSX) is investigating claims that the company violated the U.S. Foreign Corrupt Practices Act in Vietnam.

Marlborough, Massachusetts–based Boston Scientific disclosed receipt of a whistleblower’s allegations in its latest filing with the Securities and Exchange Commission.

“In March 2022, the company received a whistleblower letter alleging Foreign Corrupt Practices Act violations in Vietnam. The company is cooperating with government agencies while investigating these allegations,” the company said in its second-quarter 10-Q filing, dated Aug. 4.

More information about the allegations was not available from the filing or a Boston Scientific spokesperson reached by Medical Design & Outsourcing today. The news was first reported by the Wall Street Journal.

The Foreign Corrupt Practices Act (FCPA) was enacted in 1977 to stop companies and their employees or agents from bribing foreign officials to win or…

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FTC and DOJ staff eyes new ways to enforce antitrust laws in pharma

A two-day virtual workshop from the Federal Trade Commission (FTC) and the U.S. Department of Justice (DOJ) mulled the current state of antitrust law enforcement in the pharmaceutical industry, discussing the role of pharmacy benefit managers (PBMs) in driving up prices for consumers.

“A competitively vibrant market protects access to existing drugs and promotes new innovation, but access to medicine is already in peril by untenable costs,” said Rebecca Kelly Slaughter, an FDA commissioner in the workshop, which was held June 14–15.

M&A plays a role in driving up costs, Slaughter argued. “When mergers diminish competition in pharmaceutical markets, the result is higher prices, which can have a devastating effect for patients,” she said. “Enforcement action is necessary to prevent such harms.”

The workshop was organized by the Multilateral Pharmaceutical Merger Task Force, formed in March 2021 by then-Acting FTC Cha…

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DOJ subpoenas Philips over Respironics recall; CEO addresses investigation

Royal Philips CEO Frans van Houten [Photo courtesy of Philips]Royal Philips (NYSE:PHG) today disclosed a Department of Justice subpoena for information related to the massive recall of Respironics respiratory devices.

Philips Respironics and Philips subsidiaries in the U.S. received the subpoena on April 8 seeking “information related to events leading to the Respironics recall,” the Amsterdam-based company said as it announced its latest financial and operating results. Phillips said its subsidiaries are cooperating with investigators.

“At this time, it’s a subpoena for information,” CEO Frans van Houten said on today’s earnings call. “That means they are preparing an investigation, and we just have to accept that.”

Philips shares dropped about 12% in trading Monday as the company detailed continued supply chain struggles and mounting recall costs.

Van Houten said Phillips remains in close collaboration and contact with regulatory agencies.

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DOJ subpoenas Philips over Respironics recall; CEO addresses investigation

Royal Philips CEO Frans van Houten [Photo courtesy of Philips]

Royal Philips (NYSE:PHG) today disclosed a Department of Justice subpeona for information related to the massive recall of Respironics respiratory devices.

Philips Respironics and Philips subsidiaries in the U.S. received the subpoena on April 8 seeking “information related to events leading to the Respironics recall,” the Amsterdam-based company said as it announced its latest financial and operating results. Phillips said its subsidiaries are cooperating with investigators.

“At this time it’s a subpeoena for information,” CEO Frans van Houten said on today’s earnings call. “That means they are preparing an investigation and we just have to accept that.”

Philips shares dropped about 12% in trading Monday as the company detailed continued supply chain struggles and mounting recall costs.<…

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