Martin Shkreli, center, former hedge fund manager, arrives at federal court in Brooklyn in 2017. Photo: Peter Foley/Bloomberg
The Federal Trade Commission and New York Attorney General Letitia James on Monday sued disgraced pharmaceutical executive Martin Shkreli and his former company for "illegally monopolizing" the market for a drug used to treat potentially fatal parasitic infections.
The lawsuit, filed in Manhattan federal court, accused Shkreli and Vyera Pharmaceuticals of blocking generic competition for the drug, Daraprim, so that the company could later raise its price by more than 4,000 percent—to $750 per pill— in August 2015.
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Tom McParland
Tom McParland of New York Law Journal can be contacted at [email protected]. Follow him on Twitter @TMcParlandALM.
