Martin Shkreli is sued by the FTC and NY attorney general for illegally cornering a market
More than four years after Martin Shkreli incensed Americans by raising the price of a life-saving medicine by more than 4,000%, the Federal Trade Commission and the New York attorney general sued the infamous “pharma bro” for trying to corner the market for such drugs.
The joint action accused Shkreli and Vyera Pharmaceuticals, which was formerly known as Turing Pharmaceuticals, of scheming to “illegally” prevent would-be generic competitors from selling a version of Daraprim. Shortly after purchasing the decades-old drug, which is used to treat a serious parasite infection that afflicts people with HIV, the list price was raised from $17.50 to $750 per tablet.
