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.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]