- After a solid day, Mylan (MYL +4.5%) is giving some back in the postmarket session, -1.1%, as the Senate Judiciary Committee calls on the FTC to investigate the drugmaker's business practices for possible anticompetitive behavior.
- The committee's leadership is responding to news reports saying Mylan engaged in exclusive deals with schools, preventing them from purchasing competitors to the EpiPen auto-injector.
- In a letter to the FTC, committee Chairman Chuck Grassley and Ranking Member Patrick Leahy say “Increasing patient access to safe, effective and affordable medications has long been a shared priority of ours. We also share a strong belief that potential anti-competitive actions by drug industry participants must be aggressively investigated because of their impact on competition and drug costs."
- The committee has scheduled a hearing to look over a reported settlement between the Justice Dept. and Mylan tied to a separate issue (misclassification of EpiPen in the Medicaid Drug Rebate Program).