Last month, the Federal Trade Commission (FTC) sued nasal spray company Xlear for claiming that its xylitol-containing saline nasal spray could help fight COVID-19. Specifically, the FTC alleged that Xlear had violated the COVID-19 Consumer Protection Act. The Department of Justice also accused the company of violating the Federal Trade Commission Act. American Fork, Utah–based…
Biden and Pelosi pursuing plans to cap drug prices
President Biden has instructed FDA to develop a plan to import prescription drugs from Canada while asking federal officials to create a “comprehensive plan” to cut drug prices within 45 days. Biden has also recommended that FTC block “pay for delay” agreements from pharma companies paying generic drug makers to hold off on introducing competitive…
FTC blesses merger of Mylan and Pfizer’s Upjohn division
Mylan (NSDQ:MYL) and Pfizer (NYSE:PFE) recently announced that the U.S. Federal Trade Commission had signed off on the proposed merger of Mylan and Pfizer’s biopharmaceutical-focused Upjohn brand. Upjohn also includes Pfizer’s Greenstone generic-drug unit. It also owns the rights to Lipitor and Xanax. Pfizer plans to spin out Upjohn on Nov. 13. If all goes…