{"id":445494,"date":"2024-01-03T11:28:51","date_gmt":"2024-01-03T16:28:51","guid":{"rendered":"https:\/\/platohealth.ai\/signal-ftc-granted-injunction-to-pause-iqvias-acquisition-of-propel-media\/"},"modified":"2024-01-03T14:50:52","modified_gmt":"2024-01-03T19:50:52","slug":"signal-ftc-granted-injunction-to-pause-iqvias-acquisition-of-propel-media","status":"publish","type":"post","link":"https:\/\/platohealth.ai\/signal-ftc-granted-injunction-to-pause-iqvias-acquisition-of-propel-media\/","title":{"rendered":"Signal: FTC granted injunction to pause IQVIA\u2019s acquisition of Propel Media","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"

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IQVIA\u2019s acquisiton of PMI is unlikely to go ahead following the FTC\u2019s injunction. Photo: OleksSH\/Shutterstock.<\/figcaption><\/figure>\n<\/p><\/div>\n

The US Federal Trade Commission (FTC) has been granted a temporary injunction against health tech giant IQVIA\u2019s acquisition of digital advertising company Propel Media and its healthcare marketing subsidiary DeepIntent due to fears it may lead to anti-competitive practices.<\/p>\n

IQVIA, known for its clinical trial and healthcare information provision, looked to purchase Propel in July of last year. Shortly after, the FTC sought to block the deal, citing concerns over DeepIntent\u2019s programmatic drug marketing business. The body argued that the acquisition would incentivise IQVIA to \u201cwithhold key information to prevent rival companies and potential entrants from effectively competing.\u201d<\/p>\n

IQVIA already has its own marketing platform, Lasso Marketing, which together with DeepIntent makes up two of the three top providers of drug advertising aimed at healthcare professionals. This alone was cause for concern for the FTC, but it was compounded by IQVIA\u2019s status as the purveyor of \u201cgold standard\u201d datasets of provider identity and prescribing behaviour.<\/p>\n

Judge Edgardo Ramos\u2019 29 December ruling in the Southern District Court of New York agreed with the FTC, granting a preliminary injunction. A spokesperson for IQVIA told Reuters<\/em>: \u201cWe maintain that the FTC\u2019s arguments in this case are inconsistent with the reality of the marketplace and unsupported by the law.\u201d<\/span><\/p>\n

DeepIntent\u2019s CEO previously said that the company would walk away from the deal should the FTC\u2019s block stand, making it unlikely to come to fruition. The parties may also be wary of engaging in a lengthy legal battle following the high-profile failure of diagnostics company Illumina<\/a> to defend its acquisition of Grail against the FTC\u2019s wishes.<\/p>\n

The value of the acquisition has not been announced, but IQVIA is no stranger to expensive deals. In 2021 it acquired the remaining 40% of Q2 Solutions, a clinical trials laboratory services organization, for $760m. Many of the company\u2019s other deals have an undisclosed value, including its 2022 acquisition of Lasso.<\/p>\n

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