Emerging Antitrust Issues: Implications to the Life Sciences Industry
The prevalence of antitrust violations, particularly in the life sciences industry, has become more troubling in recent years. Because of the increasing number of lawsuits filed in which plaintiffs allege damages, the Food and Drug Administration (FDA) and the Federal Trade Commission (FTC) are working closely together to prevent anti-competitive business practices. Mergers and acquisitions among pharmaceutical companies as well as their conduct with regard to the expiration of their drug patents, have been aggressively targeted by the FTC. Antitrust cases brought by private litigants also continue to hound the industry.
Companies must, therefore, carefully follow and analyze recent antitrust issues to effectively comply with relevant laws and avoid costly litigation and hefty penalties.
In this Webcast, a panel of distinguished professionals and thought leaders organized by The Knowledge Group will provide an overview of the latest and critical antitrust issues. Speakers will likewise discuss its implications to the life sciences industry and will offer best compliance practices.
Key topics include:
- Life Sciences & Antitrust – An Overview
- Latest Enforcement Trends and Issues
- Implications to the Life Sciences Industry
- Litigation Trends and Challenges
- Risk Mitigation Strategies/ Best Compliance Practices
Claire Xie, Senior Consultant
NERA Economic Consulting
- Recent court decisions involving the use of cross price elasticities as evidence for economic substitutability in reverse payment and product hopping cases
- Common econometric methods for measuring price elasticities
- Challenges of measuring price elasticities of pharmaceuticals arising from the complex nature of the industry
Jacqueline Grise, Partner
- The FTC's opinions with respect to mergers and a review of Monopolization cases, trends and developments re: enforcement etc.
George Korenko, Partner
Edgeworth Economics, L.L.C.
- Class certification issues arise in many contexts in the life sciences industry, including reverse payments, product hopping, adverse side effects, and false claims.
- Economic analysis can be useful to provide an analytical framework to assist the fact finder in determining whether class-wide methods can be used to offer common proof of antitrust injury and formulaic approaches to damages.
- Direct purchaser issues in life sciences may include considerations such as numerosity, discounting and rebates, availability of substitutes, and the validity of the data and assumptions used for an economic model(s) proposed for estimating impact and damages.
- Indirect purchaser issues may include factors such as issues associated with the economic model(s) proposed for estimating overcharges and pass-through of those overcharges through each relevant part of the distribution chain, the availability of discounts, rebates, or coupons, and features of the supply chain(s).
Who Should Attend:
- Antitrust Lawyers
- Litigation Officers
- Business Developers
- Business Executives
- General Counsel in Life Sciences and Healthcare Industries
- Chief Compliance Officers
- Legal advisers
- Other related/interested professionals and organizations
Dr. Claire Chunying Xie is a Senior Consultant in NERA’s Antitrust, Intellectual Property, and Life Science Practices, where she conducts economic analysis in the areas of antitrust, intellectual property, and commercial damages. In antitrust matters, Dr. Xie has evaluated the competitive effects of mergers and acquisitions, and has analyzed antitrust claims and damages in cases involving alleged monopolization and price fixing behavior. Her project experience in antitrust matters spans a wide variety of industries including agriculture, data management, finance, fuel retailing, pharmaceuticals, and telecommunications. In the area of intellectual property, Dr. Xie has calculated lost profit and reasonable royalty damages in cases involving patent infringement and breach of contract allegations in industries such as apparel, credit cards, and pharmaceuticals. Dr. Xie received her PhD and MA in economics from the University of Minnesota, Twin Cities, where she also taught microeconomics, macroeconomics, money and banking, and Chinese economy. She received her BA in economics and mathematics, summa cum laude, from Agnes Scott College.
Dr. Claire Chunying Xie is a Senior Consultant in NERA’s Antitrust, Intellectual Property, and Life Science Practices, where she conducts …
Jacqueline Grise is chair of Cooley's antitrust and competition practice group. Her practice focuses on the defense of corporate clients in connection with domestic and international mergers and acquisitions, as well as antitrust counseling and other non-merger matters. She regularly represents clients before the FTC, the DOJ and numerous foreign antitrust enforcement agencies. Jackie has extensive experience counseling clients through the HSR merger review process, including advocating before the agencies, responding to second requests and coordinating antitrust defense strategies in countries around the world. Her clients span a broad range of industries, including life sciences, pharmaceuticals, medical devices, technology, consumer and food products, computer and data storage, media, industrial equipment, retail, and aerospace. She currently serves as a Vice-Chair of the ABA Antitrust Healthcare and Pharmaceuticals Committee and is co-editor of the ABA Antitrust Section’s book entitled Antitrust Aspects of the Pharmaceutical Industry (2nd).
Jacqueline Grise is chair of Cooley's antitrust and competition practice group. Her practice focuses on the defense of corporate clients …
Dr. Korenko specializes in the economics of antitrust, tax and transfer pricing, labor and executive compensation, intellectual property, and housing finance. He also specializes in the application of statistical analysis to these areas. In antitrust, Dr. Korenko has conducted economic and statistical analyses of class certification and liability issues, and prepared analyses of antitrust impact and damages. He has analyzed economic issues related to allegations of price fixing, bid rigging, tying, and monopolization, and has provided expert testimony in Federal District Court and in arbitrations. Dr. Korenko has analyzed these issues in a number of industries, including life sciences, health care, financial products, electronic components, automobile parts, railroads, and chemicals.
Dr. Korenko specializes in the economics of antitrust, tax and transfer pricing, labor and executive compensation, intellectual property, and housing …
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Method of Presentation:
Experience in antitrust laws
NY Category of CLE Credit:
Areas of Professional Practice
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About NERA Economic Consulting
NERA Economic Consulting (www.nera.com) is a global firm of experts dedicated to applying economic, finance, and quantitative principles to complex business and legal challenges. For over half a century, NERA's economists have been creating strategies, studies, reports, expert testimony, and policy recommendations for government authorities and the world’s leading law firms and corporations. We bring academic rigor, objectivity, and real world industry experience to bear on issues arising from competition, regulation, public policy, strategy, finance, and litigation.
About Cooley LLP
Cooley's lawyers solve legal issues for entrepreneurs, investors, financial institutions and established companies. Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and bet-the-company litigation, often where innovation meets the law. Cooley has 900 lawyers across 13 offices in the United States, China and Europe. Cooley's antitrust & competition team is recognized as one of the top-tier practices in the area of antitrust by Legal 500, Chambers USA and Global Competition Review. We handle all aspects of antitrust and competition law matters – including counseling, litigation, agency representation and arbitration services – for Fortune 500 corporations, as well as growing companies.
About Edgeworth Economics, L.L.C.
Edgeworth Economics provides quantitative and economic consulting in the course of litigation and business to its clients, which include world-class law firms, Fortune 500 companies, and government agencies. Edgeworth experts apply their knowledge and experience, along with state-of-the-art computing infrastructure, to help clients efficiently manage complex issues including antitrust litigation, privacy & data security, transfer pricing, intellectual property, mergers and acquisitions, class actions, labor, and data & HR analytics. As a rapidly growing firm with a fresh approach, Edgeworth attracts leaders and teachers from across the industry including PhD economists, MBAs, statisticians, and programmers. Edgeworth has offices in Washington, DC, Pasadena, San Francisco, and Toronto.