PROSECUTING EXCESSIVE PRICING OF PHARMACEUTICALS UNDER COMPETITION
"federal courts so far have refused to acknowledge excessive pricing as a cause of action under Section 2 of Sherman Act"
for excessive pricing, can economics not be used as cause of action in restraint of trade section 2 of Sherman act
Bard summarises that while challenging this way is tough:
- Sherman Act focuses on conduct, not just outcomes.
- Defining excessive price is difficult
- Antitrust courts tend to be skeptical of economical arguments (chicago school o economic thought)
Supportive role of economic pricing is as belows:
- Evidence of anticompetitive market dynamics
- quantifying harm to competition
- Advocating for regulatory intervention
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