Wednesday, July 30, 2014

Three Contact Lens Manufacturers Investigated for Price Fixing

“Moves by three of the four major U.S. contact lens makers to set price floors for many of their products, preventing low-cost retailers from discounting the expensive devices, have drawn scrutiny from lawmakers.,” reports Reuters. “The Senate Judiciary Committee's nine-member antitrust panel will meet on Wednesday to consider the decisions by Alcon, owned by Novartis AG ; Bausch+Lomb, owned by Valeant Pharmaceuticals ; and Johnson & Johnson to put in place minimum sale prices for some of their products. The practice would have been illegal just a decade ago but became legal when the Supreme Court ruled in 2007 that manufacturers can set minimum sale prices in some situations. Lawmakers will seek to determine whether these policies limit competition and lead to higher prices for consumers.” Read more.

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