The Federal Trade Commission (FTC) and the states of New York, California, Illinois, North Carolina, Ohio, Pennsylvania, and Virginia are set to recoup up to $40 million in relief for victims of an illegal scheme masterminded by Martin Shkreli. The FTC said in a press release Tuesday that the government agency, alongside several states, accuses Vyera Pharmaceuticals and Shkreli, its former CEO, as well as his associate Kevin Mulleady, and Vyera’s parent company Phoenixus AG of fleecing patients dependent on the life-saving drug Daraprim through the illegal scheme. According to the FTC, Shkreli and his associate violated antitrust laws when they hiked the price of Daraprim by 4,000 percent and then “concocted an elaborate web of restrictions to illegally block competitors from producing a cheaper option.” Daraprim, also known by its generic name Pyrimethamine, is used in conjunction with other medications such as sulfonamide, to treat the serious parasite infection, toxoplasmosis. It is also used in the treatment of individuals with …
FTC and Several States to Recoup Funds for Victims of Price Gouging Scheme by Martin Shkreli
December 8, 2021
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