Breaking: FTC Moves to Block IQVIA's Takeover of Propel Media
- July 17th, 2023
- 511 views
The Federal Trade Commission (FTC) has taken action to halt IQVIA Holdings Inc. (NYSE: IQV), the largest health care data provider, from acquiring Propel Media, Inc., a move that would give IQVIA a dominant position in programmatic advertising for health care products, particularly prescription drugs, targeting doctors and health care professionals.
The FTC alleges that the merger would reduce competition and raise prices, potentially harming patients and hindering innovation in the industry. The agency has authorized staff to seek a temporary restraining order and preliminary injunction in federal court, aiming to prevent the acquisition pending the administrative proceeding.
IQVIA's role as a major data provider in the health care industry gives it significant leverage, and the FTC contends that the deal could harm competition by restricting access to essential data and stifling rivals' ability to effectively compete.
$IQV closed at $221.37 on Monday, up $0.27 (+0.12%).
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