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Regeneron CEO Takes Industry Counterview On FTC Suit: ‘I’m Glad They’re Looking Into This’

 
• By Jessica Merrill

Leonard Schleifer said it is time for US regulators to review whether certain rebate practices are anti-competitive, while speaking at the Financial Times US Pharma & Biotech Summit in response to the FTC’s effort to stop Amgen’s acquisition of Horizon.

New York, NY - June 22, 2022: Dr. Leonard Schleifer attends Governor Kathy Hochul announcement during groundbreaking for Regeneron facilities at company campus in Tarrytown
CEO Leonard Schleifer at a June event on Regeneron's Tarrytown, NY campus • Source: Shutterstock

Regeneron Pharmaceuticals, Inc. CEO Leonard Schleifer weighed in on the Federal Trade Commission’s attempt to block Amgen, Inc.’s $27.8bn acquisition of Horizon Therapeutics plc, taking the stage at the Financial Times US Pharma and Biotech Summit on 16 May moments after the FTC announced it would seek to block the merger on the basis of Amgen’s rebating practices to support the federal agency’s move. 

Schleifer’s opinion of the FTC decision may be unexpected coming from a top pharma CEO, something not uncommon during the outspoken leader’s run at Regeneron. While many industry insiders and investors were decrying the FTC action as an overstep that could upend one of the key theses for investor investment in the sector – M&A – Schleifer said it is time for US regulators to review whether or not certain rebate practices are anti-competitive

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