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FTC divided on whether it can challenge drug-price spikes under existing law

By Leah Nylen ( June 27, 2019, 21:16 GMT | Insight) -- The Federal Trade Commission split over whether it could challenge drug-price spikes — such as the price of insulin, which has increased from $35 a vial to as much as $540 — under its existing authority. In a report to Congress, the FTC said efforts to use its Section 5 authority to challenge price hikes as unfair methods of competition would be unlikely to succeed in court, but the agency’s two Democratic commissioners said the FTC should examine bringing such a case.The Federal Trade Commission split today over whether it could challenge drug-price spikes — such as the price of insulin, which has increased from $35 a vial to as much as $540 — under its existing authority. In a report to Congress, the FTC said efforts to use its Section 5 authority to challenge price hikes as unfair methods of competition would be unlikely to succeed in court (see here)....

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