Blumenthal Statement on Pfizer-Allergan Merger

(Hartford, CT) – U.S. Senator Richard Blumenthal (D-Conn.) issued the following statement on the merger between Pfizer, Inc. and Allergan:

I am concerned that FTC’s traditional process for reviewing pharmaceutical mergers by focusing only on the level of concentration in individual drug markets is a shortsighted tool, insufficient for proper analysis of the breadth of consumer harm that could result from this enormous, $160 billion deal. The reduction in competition resulting from a merger of this size in an already concentrated market has the potential to chill investment in innovation, to distort the relationship between drug makers and pharmacies, and to further manipulate the way drug companies negotiate with health insurers."