FTC Continues Corporate Campaign

FTC shenanigans continue: Far from being chastened by its non-compete ban getting axed in federal court, the FTC continues its regulatory march amid its ongoing antitrust lawsuit challenging a major corporate merger.

• FTC sues top PBMs: The case takes action against the three largest PBMs, which make up 80% of the market, claiming they inflate drug prices to increase their profits, leaving customers paying higher prices. This further signifies the FTC’s expanding approach to consolidation and anticompetitive harm, even though the effect of such a lawsuit could be, ironically, higher prices.

• The FTC also signaled its intent to fight back on non-competes, appealing a Florida judge’s decision nixing the rule. While that decision only blocked the rule for the plaintiff in the case, the FTC’s appeal here likely means it will also fight the Texas decision that axed the rule nationwide.