New York, FTC sue ‘Pharma Bro’ Shkreli, others over Daraprim price hikes

Article Link: https://torontosun.com/news/world/new-york-ftc-sue-pharma-bro-shkreli-others-over-daraprim-price-hikes/wcm/eb9b745b-5052-4efd-b91c-7b85dd81f11e

Discussion posted by: IRWeasel

WASHINGTON — Martin Shkreli, the “Pharma Bro” in prison for defrauding investors, faces a lawsuit filed by the Federal Trade Commission and New York Attorney General’s office for a scheme to preserve his monopoly for the drug Daraprim, which has seen gigantic price increases. The lawsuit accuses a company that Shkreli once ran of buying the rights to Daraprim, which is used to treat toxoplasmosis, and quickly raising the price from $17.50 per tablet to $750 while also taking steps to ensure that there would not be a generic version of the medicine. The company named is Vyera Pharmaceuticals, formerly Turing Pharmaceuticals, which was headed by Shkreli.