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Home » Federal and State Authorities Win $40 Million Settlement from Martin Shkreli’s Former Company
Federal and State Authorities Win $40 Million Settlement from Martin Shkreli’s Former Company
The Federal Trade Commission (FTC) and a group of states have won a $40 million payout from Vyera Pharmaceuticals — formerly known as Turing Pharmaceuticals — for allegedly concocting an anticompetitive scheme to monopolize the toxoplasmosis drug Daraprim (pyrimethamine).
The lawsuit, filed in the U.S. District Court for the Southern District of New York, also charged that after Vyrea purchased Daraprim in August 2015 it raised the list price by 4,000 percent from $17.50 to $750 per tablet.
The company’s founder and former CEO, Martin Shkreli, and his business partner, Kevin Mulleady, were named as defendants in the case. Shkreli, who has not agreed to the settlement, will go on trial on Dec. 14 over the antitrust charges.
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