Pfizer-Wyeth merger won't likely benefit R&D, consumers: report

Will the planned $63 billion Pfizer-Wyeth merger be a test case for the revival of antitrust enforcement in the U.S. under President Obama?

"That the merger of Pfizer with Wyeth will benefit consumers is far from a foregone conclusion,"  says this paper, written by former Federal Trade Commission economists William Comanor (now of Harvard) and F.M. Scherer (UCLA) and sent to Attorney General Eric Holder by the American Antitrust Institute, Washington, DC.

 "There is ample reason to believe that it will make an unsatisfactory bureaucratic situation even worse, while it enriches the company managers and the banks that allocate funds from the merger... A careful and skeptical investigation by the responsible antitrust agency is very much in the national interest."

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