Model: Default (GPT-3.5)
Avatar of the person chatting

summerize this https://www.ftc.gov/system/files/ftc_gov/pdf/2310037amgenhorizoncomplainttropi.pdf

The provided link leads to a complaint filed by the Federal Trade Commission (FTC) against Amgen Inc. and Horizon Therapeutics Inc. for engaging in anticompetitive behavior related to a drug called Triptorelin. Here is a summary of the document:

The FTC accuses Amgen and Horizon of violating antitrust laws by entering into an illegal agreement that delayed competition for Triptorelin, a medication used to treat prostate cancer. According to the complaint, Amgen had exclusive rights to market and sell Triptorelin in the United States, but instead of competing with generic manufacturers when its patent expired, it made a deal with Horizon to prevent them from entering the market.

Under the agreement, Amgen allegedly paid Horizon large sums of money in exchange for Horizon's agreement not to launch a generic version of Triptorelin. This "pay-for-delay" arrangement allowed Amgen to maintain its monopoly and keep prices artificially high, depriving patients and healthcare providers of access to more affordable generic alternatives.

The FTC contends that this behavior stifled competition and resulted in higher drug prices, thereby harming consumers and violating antitrust laws. The complaint seeks to prohibit Amgen and Horizon from engaging in similar anticompetitive conduct and to provide monetary relief for the consumers affected by their actions.

In summary, the FTC's complaint alleges that Amgen and Horizon engaged in anticompetitive behavior by entering into an agreement that delayed generic competition for Triptorelin, ultimately leading to higher drug prices and less affordable options for patients. The FTC aims to stop such conduct and seek compensation for affected consumers.