WASHINGTON (Legal Newsline) – The Federal Trade Commission (FTC) announced that Invibio has agreed to settle in a case involving allegations it violated federal antitrust law by using long-term exclusive contracts to maintain a monopoly.
Invibio was the first company in the polyetheretherketone (PEEK) market. PEEK is a product used to make medical devices. According to the FTC, Invibio used anti-competitive tactics that hindered Solvay Specialty Polymers LLC and Evonik Corp. from entering the market and competing for customers.
“This case affirms that the first company to enter a market cannot rely on anti-competitive contract terms to lock up customers and box out rivals,” said Debbie Feinstein, director of the FTC’s Bureau of Competition. “This settlement is designed to provide buyers a meaningful choice among suppliers, to open the door to price competition, and to enhance innovation.”
In the FTC’s proposed consent order, Invibio would be prohibited from entering exclusive supply contracts and stopping customers from looking for alternate PEEK business.
The FTC voted 3-0 to issue the proposed consent order. It will now go before public comment.