Biden administration’s antitrust campaign a concern for pharma

Last year, the Biden administration drafted an executive order that promoted competition in the U.S. economy across several industries, including pharma and biotech. The focus on the pharma industry was not surprising, given Biden’s campaign pledge to curb drug pricing. To that end, the Biden administration has explored a variety of approaches, Robin Adelstein, the global head of antitrust and competition and co-head of commercial litigation, U.S. at Norton Rose Fulbright.

In November, the FTC signaled its intent to provide guidance for enforcement of the FTC Act, passed in 1914, to regulate monopolies and eliminate unfair competition and deceptive business practices.

Robin Adelstein

“For a long time, the FTC Act has been interpreted as being coextensive with the antitrust laws,” Adelstein said.

In 2015, FTC released the Statement of Enforcement Principles Regarding ‘Unf…

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Hackers targeted pharma and other IP for Chinese government, indictment claims

A federal grand jury in Spokane, Wash. has indicted two Chinese nationals on charges that they hacked into pharma companies and hundreds of other businesses, governments and organizations — in some cases on behalf of the Chinese Ministry of State Security.

The 11-count indictment, which the U.S. Department of Justice announced today, alleges that Li Xiaoyu and Dong Jiazhi for the past 10 years targeted companies in countries with high technology industries, including the United States. They stole terabytes of data.

“China has now taken its place, alongside Russia, Iran and North Korea, in that shameful club of nations that provide a safe haven for cybercriminals in exchange for those criminals being ‘on-call’ to work for the benefit of the state, here to feed the Chinese Communist party’s insatiable hunger for American and other non-Chinese companies’ hard-earned intellectual property, including COVID-19 research,” Assistant Attorney General for National Securi…

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