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Agency claims union would threaten a monopoly on programmatic advertising space.
In a move to block a full takeover of Propel Media, the Federal Trade Commission (FTC) has announced its intentions to sue IQVIA. As part of the lawsuit, the agency alleges that the proposed acquisition would give IQVIA a market- leading position in programmatic advertising for health care products. They also claim the merger would create a monopoly by withholding key information from competitors.
“Protecting competition in the emerging health care programmatic advertising market plays a critical role in lowering health care costs, including the cost of prescription drugs,” says Holly Vedova, bureau of competition director, FTC, in a company news release. “Given the rampant consolidation across the pharmaceutical industry, it’s critical that the market for health care product advertising remains competitive to ensure that patients and their doctors have access to high quality, affordable products.”
Reference: FTC Sues to Block IQVIA’s Acquisition of Propel Media to Prevent Increased Concentration in Health Care Programmatic Advertising. FTC. July 17, 2023. Accessed July 18, 2023. https://www.ftc.gov/news-events/news/press-releases/2023/07/ftc-sues-block-iqvias-acquisition-propel-media-prevent-increased-concentration-health-care