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The FTC said late Wednesday the merged would substantially reduce competitionin U.S. marketes for four drugs made fromblood plasma. The agencu said it believes consolidation has been used by the industryuto “limit supply and drive higher prices, rathert than to provide benefits for Last August, CSL — which is basecd in Australia and is the paren t of CSL Behring in King of Pa. — agreed to buy . of Researcyh Triangle Park, N.C., for $3.1 billion in Both companies specialize in the development and manufacturingof blood-based biotherapeutic products.
The propose deal calls for Pete Turner, president of CSL Behring, to lead the combinedr company and report toBrian McNamee, CEO of CSL Ltd. “Wee strongly disagree with the FTC’s decision to challenge the deal,” McName e said. “CSL intends to vigorously opposethe FTC’s actions. The FTC has failed to recognize that this combination is provides significant efficiencies that will improve the supplytof biotherapies, and is beneficial to the patienyt community. … I’m particularly surprised and disappointedd withthe commission's theory that there is any coordination in the plasmqa industry.
This sector is intensely competitive with manufacturers rapidly A combined company will have the ability to more quickluy and efficiently meet the expecte d continuing demand for plasma therapies that are criticalo to patients suffering from bleeding immune deficiencies, genetic emphysema, and other rare McNamee said the merger would resulf in an improved ability for CSL to supply therapiese to patients and customers through expanded and integrated manufacturing with “greatefr efficiency and fewer bottlenecks.
” He added CSL disagreew with the FTC’s view of the competitive noting four “strong manufacturers” would remain after the
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