Innovation Matters by Richard J. Gilbert

Author:Richard J. Gilbert
Language: eng
Format: epub
Tags: competition; innovation; antitrust; mergers; acquisitions; research and development; R&D; monopoly; antitrust policy; Google; Microsoft; European Commission; Justice Department; FTC; Arrow; Schumpeter;
Publisher: MIT Press

American Home Products–American Cyanamid (1995)

American Home Products (AHP) and American Cyanamid agreed to merge in August 1994. Among other activities, both companies manufactured and sold vaccines for tetanus and diphtheria and had active research programs for a vaccine to treat Rotavirus infections, a common cause of severe diarrhea. Dehydration is a serious complication of Rotavirus and is a major cause of childhood deaths in developing countries.

As a condition to approve the merger, the FTC approved the application of AHP to divest Cyanamid’s intellectual property concerning the Rotavirus vaccine research and related assets and information to Green Cross Korea, which was active in vaccine research and manufacturing.28 Green Cross Korea later rebranded itself as GC Pharma. In 2002 AHP changed its name to Wyeth, which Pfizer purchased in 2009.

To date, neither Green Cross Korea (or GC Pharma), AHP, Wyeth, nor Pfizer has developed an FDA-approved vaccine to protect humans against Rotavirus disease. In 2006, the FDA approved RotaTeq, manufactured by Merck, for the prevention of Rotavirus gastroenteritis in infants six weeks to thirty-two weeks of age. In 2009, the FDA approved Rotarix, manufactured by GSK, for the prevention of rotavirus gastroenteritis for use in infants six weeks to twenty-four weeks of age.

There is no evidence that Green Cross Korea (or GC Pharma) made a determined effort to develop a Rotavirus vaccine. The company did not apply for any US patents that reference “Rotavirus” in the two decades following the merger. GC Pharma currently offers a vaccine for chickenpox and has vaccines in various stages of investigation and clinical trials for several diseases and maladies, but nothing for Rotavirus.29

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