In the warped world of prescription drug pricing, generic drugs can cost more than branded ones, old drugs can be relaunched at astronomical prices, and low-cost options are shut out of the market. In Drugs, Money and Secret Handshakes, Robin Feldman shines a light into the dark corners of the pharmaceutical industry to expose a web of shadowy deals in which higher-priced drugs receive favorable treatment and patients are channeled toward the most expensive medicines. At the center of this web are the highly secretive middle players who establish coverage levels for patients and negotiate with drug companies. By offering lucrative payments to these middle players (as well as to doctors and hospitals), drug companies ensure that inexpensive drugs never gain traction. This system of perverse incentives has delivered the kind of exorbitant drug prices - and profits - that everyone loves except for those who pay the bills.

EU Regulation and Competition Law in the Transport Sector provides an in-depth analysis of the EU regulation of the various transport modes, and of the EU competition rules in the transport sectior. The text gives details of different substantive rules regarding, on the one hand, liberalization and regulation of transport markets and operations; and, on the other, restrictive agreements, dominant positions, and mergers, which apply to shipping, to aviation, and to inland transport. In addition to illustrating the procedures which govern enforcement of EU competition rules,and indicating how these differ from the usual procedures applied by the European Commission, this new edition addresses the recent emergence of a regulatory framework for different transport modes. The editors and authors have all been closely involved in the development of the Commission's practice in this area and have provided a detailed contemporary discussion of all relevant issues.

What does the 'internal market' mean? The EU is committed to the construction of an internal market, and in this analysis Stephen Weatherill explains that the EU's internal market is an ambiguous legal concept. One may readily suppose that the United Kingdom possesses an internal market. So does Germany, so does France, so does Australia, and Canada, and the United States of America. The European Union aspires to an internal market, but the detailed patterns governing these several internal markets are not uniform; in fact they vary according to the extent to which the constituent units are permitted to pursue different regulatory policies. They vary according to the scope of law-making competence and powers allocated to the central authority. They vary according to the governing institutional (judicial and political) arrangements. The quality and intensity of the regulated environment varies according to the choices made. There is a broad band of possible internal markets, ranging from one that is radically decentralized as a result of a choice in favour of unrestricted inter-jurisdictional competition to, at the other extreme, one that is radically centralized in the sense that law-making competence has been completely stripped away from the constituent units in favour of the central authority. Within that spectrum there is a huge range of options. In this inquiry into the limits and ambiguities of the internal market as a legal concept, Weatherill examines and explains the choices made by the EU and demonstrates what they entail for the shape of the EU's internal market. This book is not about 'Brexit', but it shows that one of the claims commonly made by Brexiteers - that the internal market can be confined merely to a deregulatory exercise in free market economics - has no support whatsoever in either EU constitutional law or in EU legislative and judicial practice.

This book focuses on market law and policy in sub-Saharan Africa, showing how markets can be harnessed by poorer and developing economies to help make the markets work for them: to help them integrate into the world economy and provide a better standard of living for their people while preserving their values of inclusive development. It explores uses of power both by dominant firms, often multinationals, and incumbent governments and cronies, to ring-fence their market positions and deprive rivals - often the indigenous people - from fair access to markets and highlights how competition authorities are pushing back and winning fair access, lowering prices of goods and services especially for the poorer population. The book also examines the next level up - regionalism - and provides the facts that show how regionalism has so far failed to meet its promise of freeing markets from cross-border restraints by large firms that operate across national borders. On the more technical side, the book takes a deep look at the competition policies of sets of nations in sub-Saharan Africa - West, South-eastern, and South. It examines the performance of the competition authorities of particular nations, including how they handle cartels, monopolies, and mergers; their standards of illegality, and their methodologies for incorporating public interest values into their analyses. Observing the good works by a number of the national competition authorities, the book is optimistic about the role of the national competition authorities in protecting the people from abuses of economic power, and, perhaps in the future, the role of regional authorities and less formal networks in promoting an African voice in defence of competition.

This is the first work to disentangle the procedural complexities of the interplay between public and private enforcement of competition law in the EU and in the UK as well as in its transnational, multi-jurisdictional dimension. Now in its second edition, the work considers a number of crucially important legal developments in relation to the enforcement of competition law globally and within the European Union including the EU Directive on damages actions, the reforms of the UK public enforcement regime in the Enterprise and Regulatory Reform Act 2013, the reforms of the UK private enforcement regime brought about by the Consumer Rights Act 2015, and recent case law developments on public and private enforcement. This volume contains an in-depth examination of the principles and policies underlying the interplay of administrative, criminal and civil proceedings and explains in detail the practical solutions and strategies available in light of the relevant legislation and case law. Fully revised and updated with developments in jurisprudence across the US, UK, and EU, this is the most comprehensive and authoritative practitioner guide to this fast-moving and complex area of law.

A ProMarket Best Political Economy Book of the Year China's rise as an economic superpower has caused growing anxieties in the West. Europe is now applying stricter scrutiny over takeovers by Chinese state-owned giants, while the United States is imposing aggressive sanctions on leading Chinese technology firms such as Huawei, TikTok, and WeChat. Given the escalating geopolitical tensions between China and the West, are there any hopeful prospects for economic globalization? In her compelling new book Chinese Antitrust Exceptionalism, Angela Zhang examines the most important and least understood tactic that China can deploy to counter western sanctions: antitrust law. Zhang reveals how China has transformed antitrust law into a powerful economic weapon, supplying theory and case studies to explain its strategic application over the course of the Sino-US tech war. Zhang also exposes the vast administrative discretion possessed by the Chinese government, showing how agencies can leverage the media to push forward aggressive enforcement. She further dives into the bureaucratic politics that spurred China's antitrust regulation, providing an incisive analysis of how divergent missions, cultures, and structures of agencies have shaped regulatory outcomes. More than a legal analysis, Zhang offers a political and economic study of our contemporary moment. She demonstrates that Chinese exceptionalism-as manifested in the way China regulates and is regulated, is reshaping global regulation and that future cooperation relies on the West comprehending Chinese idiosyncrasies and China achieving greater transparency thorugh integration with its Western rivals. Watch a short introductory video from the author.

In recent years, market definition has come under attack as an analytical tool of competition law. Scholars have increasingly questioned its usefulness and feasibility. That criticism comes into sharper relief in dynamic, innovation-driven markets, which do not correspond to the static markets on which the concept of the relevant market was modelled. This book explores that controversy from a comparative legal perspective, taking into account both EU competition and US antitrust law. It examines the manifold ways in which courts and competition authorities in the EU and US have factored innovation-related considerations into market delineation, covering: innovative product markets, product differentiation, future markets, issues going beyond market definition proper - such as innovation competition, innovation markets and potential competition -, intellectual property rights, innovative aftermarkets and multi-sided platforms. This book finds that going forward, the role of market definition in dynamic contexts needs to focus on its function of market characterisation rather than on the assessment of market power.

Blackstone's Statutes have a 25-year tradition of trust and quality, and a rock-solid reputation for accuracy, reliability, and authority. Content is extensively reviewed to ensure a close map to courses. Blackstone's Statutes lead the market: consistently recommended by lecturers and relied on by students for exam and course use. Each title is: * Trusted: ideal for exam use * Practical: find what you need instantly * Reliable: current, comprehensive coverage * Relevant: content based on detailed market feedback Visit www.oxfordtextbooks.co.uk/orc/statutes/ for accompanying online resources, including additional statutes and materials, video guides to reading and interpreting statutes, exam tips, and an interactive sample Act of Parliament.

The significant evolution of EU competition law in the last 15 years has been fundamentally influenced by economic theory, and economic aspects of cartel prosecution are increasingly relevant in modern competition practice. EU Cartel Law and Economics is the first book-length assessment of cartels from an integrated law and economics perspective. This perspective allows for a more insightful evaluation of the wide variety of practices at the intersection between collusive restrictions of competition and pro-competitive agreements between firms. It sheds light on the underlying mechanics of cartels, including how to detect anti-competitive conspiracies in the absence of hard evidence. It also provides a more conceptual approach to cartel law, outlining ways in which the current legal structure can be applied more effectively to deter anti-competitive conduct without discouraging pro-competitive forms of cooperation between firms. The book is divided into four parts: the first part provides a conceptual overview of the law and economics of cartels; the second part describes the central legal analysis in cartel cases; the third part summarises the regulatory process in cartel investigations; and the fourth part deals with civil damages. EU Cartel Law and Economics is a topical and innovative reference work written by recognised experts in the field.

Before and during World War II, Japan's economy was controlled by power economic concentrations, large family holdings that passed from one generation to another, called zaibatsu. This book is a full assessment of the American postwar attempt to break up these powerful combines. Miss Hadley recounts both General Douglas MacArthur's efforts to implement the American occupation's antitrust policies and the Japanese government's resistance while it appeared to comply with zaibatsu dissolution. As the Cold War developed, American defense thinkers began to emphasize recovery rather than reform, and conservative American businessmen supported the abandonment of antitrust policy in Japan. The second half of the book examines the consequences of the antitrust measures and reaches conclusions which challenge prevailing Japanese and American views. Originally published in 1970. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Cartel activity is prohibited under EU law by virtue of Article 101(1) of the Treaty on the Functioning of the European Union. Firms that violate this provision face severe punishment from those entities responsible for enforcing EU competition law: the European Commission, the national competition authorities, and the national courts. Stiff fines are regularly imposed on firms by these entities; such firm-focused punishment is an established feature of the antitrust enforcement landscape within the EU. In recent years, however, focus has also been placed on the individuals within the firms responsible for the cartel activity. It is increasingly recognized that punishment for cartel activity should be individual-focused as well as firm-focused. Accordingly, a growing tendency to criminalize cartel activity can be observed in the EU Member States. The existence of such criminal sanctions within the EU presents a number of crucial challenges that need to be met if the underlying enforcement objectives are to be achieved in practice without violating prevailing legal norms. For a start, given the severe consequences of a custodial sentence, the employment of criminal antitrust punishment must be justifiable in principle: one must have a robust normative framework rationalizing the existence of criminal cartel sanctions. Second, for it to be legitimate, antitrust criminalization should only occur in a manner that respects the mandatory legalities applicable to the European jurisdiction in question. These include the due process rights of the accused and the principle of legal certainty. Finally, the correct practical measures (such as a criminal leniency policy and a correctly defined criminal cartel offence) need to be in place in order to ensure that the employment of criminal antitrust punishment actually achieves its aims while maintaining its legitimacy. These three particular challenges can be conceptualized respectively as the theoretical, legal, and practical challenges of European antitrust criminalization. This book analyses these three crucial challenges so that the complexity of the process of European antitrust criminalization can be understood more accurately. In doing so, this book acknowledges that the three challenges should not be considered in isolation. In fact there is a dynamic relationship between the theoretical, legal, and practical challenges of European antitrust criminalization and an effective antitrust criminalization policy is one which recognizes and respects this complex interaction.

This book scrutinizes legislative novelties and case law in the area of EU competition and state aid rules, focusing on the interaction between public and private enforcement of those rules. It is intended for scholars, stakeholders and anyone involved in the process of law enforcement - judges, attorneys at law, corporate lawyers and market participants. The book features contributions by prominent competition law scholars offering an academic analysis of the topics covered, and by several EU General Court judges, including its President, Mr. Marc Jaeger, providing first-hand information on the application of the EU competition rules in the General Court.

Competition (or antitrust) law is national law. More than 120 jurisdictions have adopted their own competition law. Is there a need for convergence of the competition law systems of the world? Much effort has been devoted to nudging substantive law convergence in the absence of an international law of competition. But it is widely acknowledged that institutions play as great a role as substantive principles in the harmonious - or dissonant - application of the law. This book provides the first in depth study of the institutions of antitrust. It does so through a particular inquiry: Do the competition systems of the world embrace substantially the same process norms? Are global norms embedded in the institutional arrangements, however disparate? Delving deeply into their jurisdictions, the contributors illuminate the inner workings of the systems and expose the process norms embedded within. Case studies feature Australia/New Zealand, Canada, Chile, China, Japan, South Africa, the USA, and the European Union, as well as the four leading international institutions involved in competition: the World Trade Organization, the Organization for Economic Cooperation and Development, the United Nations Conference on Trade and Development, and the International Competition Network; and the introductory and synthesizing chapter by the directors of the project draws also from the new institutional arrangements of Brazil and India. The book reveals that there are indeed common process norms across the very different systems; thus, this study is a counterpart to studies on convergence of substantive rules. The synthesizing chapter observes an emerging 'sympathy of systems' in which global process norms, along with substantive norms, play a critical role. The book provides benchmarks for the field and suggests possibilities for future development when the norms are embraced in aspiration but not yet in practice. It offers insights for all interested in competition law and global governance.

This work gives an overview of the impact of EU competition rules and internal market law on healthcare systems in Europe. Alongside a thorough discussion of healthcare provision and the medical professions, the book covers health insurance, pharmaceuticals, and medical devices. There is an examination of the impact of the four freedoms, the cartel and abuse of dominance prohibitions and merger control, as well as the rules on state aid and public procurement. The book also considers horizontal measures as they affect healthcare. Written by experts, this is an ideal tool for those requiring an in-depth discussion of this important area of EU law.

Global competition now shapes economies and societies in ways unimaginable only a few years ago, and competition (or 'antitrust') law is a key component of the legal framework for global competition. These laws are intended to protect competition from distortion and restraint, and on the national level they reflect the relationships between markets, their participants, and those affected by them. The current legal framework for the global economy is provided, however, by national laws and institutions. This means that those few governments that have sufficient 'power' to apply their laws to conduct outside their own territory provide the norms of global competition. This has long meant that the US (and, more recently, the EU) structure global competition, but China and other countries are increasingly using their economic and political leverage to apply their own competition laws to global markets. The result is increasing uncertainty, costs, and conflicts that burden global economic development. This book examines competition law on the global level and reveals its often complex and little-understood dynamics. It focuses on the interactions between national and international legal regimes that are central to these dynamics and a key to understanding them. Part I examines the evolution of the current global system, the factors that have shaped it, how it operates today, and recent efforts to alter that system-e.g., by including competition law in the WTO. Part II focuses on national competition law systems, revealing how national laws and experiences shape global competition law dynamics and how global factors, in turn, shape national laws and experiences. It examines the central roles of US and European law and experience, and it also pays close attention to countries such as China that are playing increasingly important roles in the global competition law arena. Part III analyzes current strategies for improving the legal framework for global competition and identifies the factors that may contribute to a system that more effectively supports global economic and political development. This analysis also suggests a pathway for moving toward that goal.

Die Autorin nimmt die Reform des Gesetzes gegen den unlauteren Wettbewerb (UWG) im Jahr 2015 zum Anlass, die damit einhergehenden AEnderungen im Hinblick auf das Spurbarkeitsmerkmal zu untersuchen. Anhand verschiedener Fragestellungen und einer Analyse der Rechtsprechung zum Spurbarkeitsmerkmal wird unter anderem uberpruft, ob die sprachlichen und gesetzessystematischen Anpassungen des UWG 2015 an die Richtlinie uber unlautere Geschaftspraktiken tatsachlich keine AEnderung der materiellen Rechtslage mit sich bringen wird oder ob und in welchem Umfang fur die Rechtsprechung Anpassungsbedarf besteht. Daruber hinaus uberpruft die Autorin, ob eine Auswirkungsanalyse im Sinne des oekonomischen Ansatzes des more economic approach oder oekonomische Ansatze, wie etwa die Neue Institutionenoekonomik oder die Informationsoekonomie, Unterstutzung in der Rechtsanwendung des UWG liefern koennten.

Cases and Materials on UK and EC Competition Law is designed to help the reader make sense of this fast-developing and often complex area of law. By providing readers with a broad range of materials relating to both UK and EC competition law, all of the notable cases and materials are collected in one place making this an invaluable resource for students. Useful notes and questions help to check progress and reinforce understanding and expanded further reading points students towards useful websites, books, and articles.
Including hard-to-find primary sources as well as extracts from cases, statutes, and academic sources, and supported by penetrating commentary and insightful notes, the second edition of Cases and Materials on UK & EC Competition Law is a vital tool for anyone serious about developing a grasp of this increasingly significant subject.

This practical commentary addresses all aspects of the EC Anti-Dumping regulation and makes extensive comparison with WTO Anti-Dumping Law. Anti-Dumping Law is a branch of EC and WTO law which is of considerable practical and economic relevance. This book is the long-awaited new edition of the 1997 book by the same authors and includes all the changes in that period including relevant Court rulings, the extensive practice by the Council and the Commission of the European Union as well as reports by the WTO Dispute Settlement Panels.
This book will be the standard reference book among practitioners and government officials around the world as many important countries using anti-dumping instruments have based their laws and practice on the EC model.

Goyder's EC Competition Law is firmly established as a classic text on this area of law. The emergence of competition law has been one of the most important features of the EC and has had a significant impact on many aspects of UK business and economic life. This book provides a full account of its development since the inception of the EC in 1957. Competition law is a complex and often highly technical subject which the authors have unlocked by exploring its historical origins and early developments before illustrating the main areas of substantive law. Covering all of the major areas studied on undergraduate and postgraduate courses, the book contains not only a full account of the substantive law and its social, political and economic context, but also a penetrating assessment of its practical effectiveness and likely future development. Topics covered in this new, revised, fifth edition, include: - the Modernisation of the Enforcement of the EC Competition rules - the new Block Exemption Regulations on Motor Vehicle and Distribution, and Technology Transfer Agreements - the Commission review of Article 82 EC - the new Merger Regulation - recent developments in international aspects of EC competition law.

This book provides practitioners with a ready and comprehensive reference to the procedures for the enforcement of competition law in the UK following the implementation of the EC modernisation regulation (European Council Regulation 1 of 2003). The modernisation regulation came into effect on 1 May 2004, along with substantial changes to the Competition Act 1998 in the UK. As former Office of Fair Trading officials who were closely involved in the UK implementation of the EC modernisation regulation, the authors have first hand knowledge of the procedural changes in the UK and in Europe. They draw upon this experience, as well as the expertise of the Editor and Consultant Editor, in providing a truly practical and invaluable analysis of the modernised regime. This book essentially covers practice and procedure, while also providing a brief overview of the substantive elements of competition law (which have not changed). It provides comprehensive and up to date coverage of the competition law procedures relevant to businesses and lawyers in the UK today. The book is edited by Margaret Bloom (King's College, London), a well known and respected leader in the field of UK competition practice, and Anneli Howard, a barrister at Monckton Chambers specialising in competition law.

This second edition of Merger Control in the EU provides the reader with an exhaustive analysis of the European Community rules relating to merger control, including the new EC Merger Regulation 139/2004 of 20 January 2004 which entered into force on 1 May 2004 and the latest interpretive notices adopted by the European Commission. A brand new addition to the book is the companion website which will maintain the currency of the main work after publication; a service that is free of charge to all who own a copy of the book. The European Commission has exclusive competence to authorise or prohibit concentrations which have a Community dimension. Bearing in mind the economic relevance of these operations, decisions made by the Commission have an extraordinary market impact. This work is an invaluable and precise instrument for legal practitioners and economists, as well as for those undertakings involved in merger operations or acquisitions. It will enable them to become acquainted with the Commission's policy in this field and to guide themselves through the complex procedure of notification in Brussels. It will also be useful for those merger operations which are required to follow the procedure of notification to the national competition authorities in EU Member States, since the Commission's guidelines inspire, to a large extent, the acts and decisions of the national authorities in this field. This book analyses the issues related to merger control not only from a legal standpoint, but also from an economic one. It is a product of the authors' knowledge and experience in Brussels as officials of DG Competition in the Commission, and as lawyers defending the interests of undertakings involved in the notification procedure.

The problems connected with anti-trust policies in an economy based upon competition are many and varied. This collection of essays written from many points of view attempts to deal with specific issues related to general themes of government and private policy. The contributions consider such topics as anti-trust and national goals, administered prices, concentrations of market power, mergers, competition among commercial banks, problems of small business, transportation industries, exemptions from anti-trust laws, the role of labor unions, and international competition. It is not the purpose of this study to develop a uniform view on competitive policy; rather the participants are acknowledged experts who offer a broad spectrum of opinions and methods of analysis. They include economists, businessmen, labor representatives, and government officials. Originally published in 1965. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

EU competition law plays a central role in the process of European integration both as a multifaceted tool for creating and policing the internal market as well as in organising national markets. Yet as a consequence of this role it is also subject to increasingly complex demands, a proliferation of (sectoral) regimes, and multiple objectives at both an EU and national level. This profligacy entails risks of fragmentation and divergence - which could jeopardise the proper functioning of the internal market. In this examination of EU competition law, Wolf Sauter discusses three main issues: (i) what degree of coherence exists in EU competition law; (ii) how this coherence can be explained, particularly in the broader context of integration by EU law; and (iii) how it contributes to the legitimacy and effectiveness of EU competition law. Specific focus is placed on antitrust, while mergers, state aid control, as well as the sectoral regimes for energy and electronic communications are also examined. In addition the book also charts the history and framework of these competition regimes that jointly constitute EU competition law, defining both its objectives and limitations.

The Federal Trade Commission, a US agency created in 1914 to police the problem of 'bigness', has evolved into the most important regulator of information privacy - and thus innovation policy - in the world. Its policies profoundly affect business practices and serve to regulate most of the consumer economy. In short, it now regulates our technological future. Despite its stature, however, the agency is often poorly understood by observers and even those who practice before it. This volume by Chris Jay Hoofnagle - an internationally recognized scholar with more than fifteen years of experience interacting with the FTC - is designed to redress this confusion by explaining how the FTC arrived at its current position of power. It will be essential reading for lawyers, legal academics, political scientists, historians and anyone else interested in understanding the FTC's privacy activities and how they fit in the context of the agency's broader consumer protection mission.