Victrex resolves issues with Federal Trade Commission

High-performance polymer producer Victrex announced on Thursday that it had entered into a consent decree with the US Federal Trade Commission, concerning an inquiry by the commission into the sale and marketing of implantable grade PEEK polymer in the US by its subsidiaries Invibio Inc and Invibio Ltd.

The FTSE 250 firm said the consent decree has made clear Victrex has not admitted any violations of any law.

It confirmed there were no penalties or fines, and the consent decree will resolve all outstanding matters pending before the FTC.

“A 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,” the board said in a statement.

Victrex did not expect the FTC consent decree to have a material impact on our business.

“The 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,” the board explained.

“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.”