ANALYSIS: Fractured FTC OKs AbbVie-Allergan, With Remedies

After 10 months of investigation, the Federal Trade Commission cleared AbbVie Inc.‘s $63 billion deal to buy Allergan plc. Fractured opinions about the deal from the five commissioners highlight, however, a broader disagreement about the role of antitrust in regulating pharmaceutical markets.

The commission vote to issue a complaint against the merger and approve a consent decree that permits the merger following divestitures was 3-2, with sharp disagreement about whether the proposed remedy will be successful in preserving competition.

It’s a particularly difficult time to read the tea leaves about how pharmaceutical and health care markets will function ...