Company Overview of Federal Trade Commission
600 Pennsylvania Avenue
Washington, DC 20580
Key Executives for Federal Trade Commission
Chair of Covington's Antitrust and Consumer Law Practice Group
Acting Chief Information Officer
Compensation as of Fiscal Year 2014.
Federal Trade Commission Key Developments
Cardinal Health to Pay $26.8 Million in Federal Trade Commission Settlement
Apr 20 15
Cardinal Health will pay $26.8 million as part of a settlement with the Federal Trade Commission over charges it monopolized the sale in 25 markets of diagnostic drugs known as low-energy radiopharmaceuticals. The charges allege that the company forced hospitals and clinics to pay inflated prices for the drugs, used to diagnose a range of conditions, including heart disease. The Federal Trade Commission said that Cardinal Health did this by employing various tactics to get both Bristol Myers-Squibb and General Electric Co. to refuse to grant distribution rights for their radiopharmaceuticals used in heart stress tests to potential Cardinal competitors in those 25 markets. Without rights for those agents, competitors' businesses were not financially viable. The settlement money will be placed in a fund that will be distributed to customers who had to pay the inflated prices.
Federal Trade Commission Approves Final Order Preserving Competition in Market for Braf- and Mek-Inhibitor Oncology Drugs
Apr 8 15
Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Novartis AG's $16 billion acquisition of GlaxoSmithKline's portfolio of cancer-treatment drugs likely would be anticompetitive. Under the order, first announced in February 2015, Novartis has agreed to divest all assets related to its BRAF- and MEK-inhibitor drugs, currently in development, to Boulder, Colorado-based Array BioPharma. The Commission vote approving the final order was 5-0.
Federal Trade Commission Obtains Settlement from Network Solutions LLC for Misleading Consumers About Refunds
Apr 7 15
Network Solutions LLC has agreed to settle Federal Trade Commission charges that it misled consumers who bought its web hosting services by promising a full refund if they canceled within 30 days. In reality, the company withheld substantial cancellation fees from most refunds. In an administrative complaint, the FTC alleged that Network Solutions, a domain name registrar and web hosting provider, offered web hosting packages with a '30 Day Money Back Guarantee,' but did not adequately disclose that it withheld part of the refund - up to 30% - from customers who cancelled within 30 days of buying an annual or multi-year package and registering an included domain name. The proposed settlement order prohibits Network Solutions from failing to clearly disclose, before obtaining a customer's billing information, the material terms of any money-back guarantee, or failing to refund the full purchase price in response to a request that complies with the terms of a guarantee. The settlement also bars the company from misrepresenting material terms of any refund or cancellation policy or money-back guarantee, or any other material fact about web hosting. The FTC acknowledges the assistance of the Better Business Bureau serving Metro Washington DC and Eastern Pennsylvania in this case. The Commission vote to issue an administrative complaint and accept the proposed consent agreement for public comment was 5-0. The FTC will publish a description of the consent agreement package in the Federal Register shortly. The agreement will be subject to public comment for 30 days, beginning April 7, 2015 and continuing through May 7, 2015, after which the Commission will decide whether to issue the order on a final basis.
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