By Erin Coe

Law360, New York (April 09, 2009, 12:00 AM ET) -- Troubled by consolidation in the pharmaceutical industry, the American Antitrust Institute has called on federal regulators to thoroughly examine the consequences of the proposed Pfizer Inc.-Wyeth Inc. and Merck & Co.-Schering-Plough Corp. tie-ups and their broader systemic effects on competition and creativity.

The AAI sent a memorandum on Tuesday to the Federal Trade Commission, urging the agency to consider the far-reaching competitive effects of Pfizer’s $68 billion bid to acquire Wyeth, and Merck’s $41 billion takeover proposal of Schering-Plough, warning that they could harm drug innovation,...