FTC Sues to Block IQVIA’s Acquisition of Propel Media

July 21, 2023

The Federal Trade Commission (FTC) is attempting to block IQVIA Holdings from acquiring Propel Media, Inc., arguing that it would create an unfair market advantage in healthcare product advertising. Holly Vedova, FTC Bureau of Competition Director, explained, “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.” This merger could potentially hinder competition, thus leading to raised costs and decreased product quality and choice. This lawsuit follows additional FTC actions to prevent significant mergers in both the healthcare and tech industries.

IQVIA expressed disappointment in the FTC’s decision, defending itself as a recent market entrant attempting to boost competition. Attention will now focus on the court’s decision regarding the FTC’s request for a temporary restraining order and preliminary injunction.

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[Source: MM+M, July 17th, 2023]

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