FTC Approves Final Order Settling Charges that Thermo Fisher’s Acquisition of Life Technologies Corporation Was Anticompetitive
- Created on Wednesday, 02 April 2014 13:10
- Written by IVN
Washington, DC - Following a public comment period, the Federal Trade Commission has approved a final consent order settling charges that Thermo Fisher Scientific Inc.’s acquisition of Life Technologies Corporation was likely to lessen competition.
The FTC’s January 2014 complaint alleges that the transaction, would have eliminated close competition between Thermo Fisher and Life Technologies and substantially increased concentration in the markets for short/small interfering ribonucleic acid (siRNA) reagents, cell culture media, and cell culture sera, enabling the combined firm to raise prices and reduce quality for consumers.
The final order settling the Commission’s charges requires Thermo Fisher to divest its gene modulation business, Dharmacon, which includes the siRNA reagents business, as well as its cell culture media and sera business, HyClone, to GE Healthcare.
The Commission vote approving the final order was 4-0.