Business
Resolution of US FTC inquiry
Resolution of US FTC inquiry.
About this update from Victrex Plc
[{"type":"text","content":"\n \nRNS Number : 5846W Victrex PLC 28 April 2016 \n\n \n \n \n \n \n28 April 2016\n \nVictrex Announces Resolution of US Federal Trade Commission Inquiry\n \nVictrex plc today announces that it has entered into a consent decree with the U.S. Federal Trade Commission (FTC) concerning an FTC inquiry into the sale and marketing of implantable grade PEEK polymer in the United States by Victrex's subsidiaries, Invibio Inc and Invibio Limited.\n \nThe consent decree is clear that we have not admitted any violations of any law. \n \nThere are no penalties or fines and the consent decree will resolve all outstanding matters pending before the FTC. \n \nA decision to enter into the consent decree and end the investigation quickly and without admitting to any violations of any law, was taken to ensure that management time, resources and focus remains on product and market innovation, maximising customer relationships and minimising business disruption.\n \nWe do not expect the FTC consent decree to have a material impact on our business.\n \nThe consent decree will apply to all existing and future Invibio customer contracts. Generally, the consent decree does not enable Invibio to enter agreements or engage in practices that require its customers to purchase PEEK exclusively at or beyond the device level from Invibio. There are exceptions for certain important circumstances, including where Invibio is working with its customers on custom components and when jointly developing new and exciting applications. \n \n \n \nEnquiries:\nVictrex plc:\nAndrew Hanson, Head of Investor Relations & Communications +44 (0) 1253 898121\nDavid Hummel, Chief Executive &...