WASHINGTON, April 27 (Reuters) - Invibio, a division of Victrex PLC that makes a key polymer used in spinal and other medical implants, agreed to settle allegations that it demanded exclusive contracts to illegally maintain its high market share, the Federal Trade Commission said on Wednesday.
The FTC said Invibio, which makes polyetheretherketone, or PEEK, insisted on long-term, exclusive or nearly exclusive contracts to maintain its 90 percent market share. This prevented competitors from effectively entering the market, the FTC said in a statement.
Under the settlement, Invibio will be barred from demanding exclusive contracts and must allow some customers to modify their contracts.
A spokesman for Invibio was not immediately available for comment. (Reporting by Diane Bartz; Editing by Bill Trott)