奥驰亚- juul实验室交易分析:反垄断和人口健康影响。

IF 1.3 4区 社会学 Q3 ECONOMICS Journal of Competition Law & Economics Pub Date : 2021-01-23 eCollection Date: 2021-06-01 DOI:10.1093/joclec/nhaa033
David T Levy, Luz María Sánchez-Romero, Clifford E Douglas, David T Sweanor
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引用次数: 5

摘要

2018年12月19日,奥驰亚宣布以128亿美元收购美国最大的卷烟制造商Juul Labs,将其与美国最大的电子烟公司合并。这项交易目前正受到美国联邦贸易委员会(FTC)的质疑。我们考虑反垄断的影响。我们还考虑了对人口健康的影响,我们认为这对于全面分析对消费者的影响至关重要。尽管联邦贸易委员会的反垄断调查主要集中在封闭的电子烟系统上,但我们认为相关的市场是更广泛的尼古丁输送产品市场,包括所有的电子烟产品和烟草产品。由于奥驰亚在关键的尼古丁输送产品子市场占有很大的市场份额,并且存在重要的进入壁垒,合并可能使奥驰亚在相关市场占据主导地位。特别是,电子烟子市场的竞争减少了,因此可能会减少危害较小的香烟替代品的供应。
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An Analysis of the Altria-Juul Labs Deal: Antitrust and Population Health Implications.

On December 19, 2018, Altria announced an offer of $12.8 billion for Juul Labs, combining the largest U.S. cigarette manufacturer with the largest U.S. e-cigarette company. This deal is currently being challenged by the Federal Trade Commission (FTC). We consider the antitrust implications. We also consider population health implications, which we argue are essential to a comprehensive analysis of the impact on consumers. Although the FTC antitrust investigation has focused on closed vaping systems, we argue that the relevant market is the broader nicotine delivery product market, which includes all vaping products along with tobacco products. With Altria having a large market share in the key nicotine delivery product submarkets and with important entry barriers, the merger potentially places Altria in a dominant position in the relevant market. In particular, competition in the vaping submarket is reduced, thereby likely to reduce the availability of less harmful alternatives to cigarettes.

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来源期刊
CiteScore
2.20
自引率
26.70%
发文量
16
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