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%—to $750 per pill— in August 2015.
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