Monday, August 31, 2015

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?

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

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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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PhillyDeals posts drafts, transcripts and updates of Joseph N. DiStefano's columns and stories about Philly-area business, which he's been writing since 1989.

DiStefano studied economics, history and a little engineering at Penn and taught writing at St. Joseph's. He has written thousands of columns and articles for the Inquirer, Bloomberg and other media, wrote the book Comcasted, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com, distefano251@gmail.com, 215.854.5194 or 302.652.2004.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
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