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Top related persons:
Doug Farrar - 2 Scott Sheffield - 1 Exxon - 1 Sheffield - 1 Sheffield's - 1 Lina Khan - 1 — CNBC's Pippa Stevens - 1 Mary Catherine Wellons - 1
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U.S
Top related orgs:
Federal Trade Commission - 2 FTC - 2 CNBC - 2 Natural Resources - 1 OPEC - 1 Exxon Mobil - 1 Pioneer - 1 Justice Department - 1

Search resuls for: "Doug Farrar"


2 mentions found


☆ FTC accuses ex-Pioneer CEO of colluding with OPEC, blocks him from Exxon board seat
  + stars: | 2024-05-02 | by ( Spencer Kimball | ) www.cnbc.com   time to read: +2 min
The FTC filed a complaint alleging that Scott Sheffield attempted to collude with representatives of OPEC to reduce oil and gas output to increase prices at the pump and inflate Pioneer's profits. "The FTC has a responsibility to refer potentially criminal behavior and takes that obligation very seriously," spokesman Doug Farrar told CNBC. In response, Exxon agreed to keep Sheffield off its board, the oil major said in a statement Thursday. The FTC alleged that Sheffield repeatedly held private conversations with high-ranking OPEC representatives to assure them that Pioneer and its competitors in the Permian Basin were working to keep oil output artificially low. "Notwithstanding, Pioneer and Mr. Sheffield are not taking any steps to prevent the merger from closing," the company said in the statement.
Persons: Scott Sheffield, Doug Farrar, Exxon, Sheffield, Sheffield's, Lina Khan, — CNBC's Pippa Stevens, Mary Catherine Wellons, Lina Khan's Organizations: Federal Trade Commission, Natural Resources, OPEC, Exxon Mobil, Pioneer, FTC, Justice Department, Wall Street, CNBC, Exxon, Sheffield
☆ Biden administration examining role of supply chain middlemen in generic drug shortages
  + stars: | 2024-02-14 | by ( Annika Kim Constantino | ) www.cnbc.com   time to read: +3 min
They are group purchasing organizations, which broker drug purchases for hospitals and other health-care providers, and drug wholesalers, which buy medicines from manufacturers and distribute them to providers. But the Biden administration is zeroing in on other players in the drug supply chain to uncover the "root causes and potential solutions" to ongoing shortages. The Federal Trade Commission on Wednesday said it is examining the role that drug wholesalers and companies that purchase medicines for U.S. health-care providers play in shortages of generic drugs, which account for the majority of Americans' prescriptions. Group purchasing organizations and wholesalers have gotten limited attention on Capitol Hill, even as reining in high drug costs has become a key priority among lawmakers in both chambers. PBMs contend that manufacturers are responsible for high drug prices, while drugmakers say rebates and fees collected by those middlemen force them to increase list prices for products.
Persons: Biden, Doug Farrar, Cencora Organizations: FTC, Department of Health, Human Services, Federal Trade Commission, Public Affairs, CNBC, HHS, Cardinal Health, Group, Capitol, CNBC PRO Locations: U.S
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