The Federal Trade Commission and the New York Attorney General’s office are suing “Pharma Bro” Martin Shkreli and his company, Vyera Pharmaceuticals, for allegedly “illegally monopolizing” the medication Daraprim. CNBC reports that the lawsuit claims Shkreli, who is currently in prison, had talks with Vyera executives about illegal tactics to thwart competitors of Daraprim—a medicine used to treat toxoplasmosis, which is found in pregnant women, babies, and those with HIV. They also claim the company took illegal actions to prevent Daraprim competitors from entering the market. The lawsuit seeks to ban Shkreli from working in the pharmaceutical industry and monetary relief for the company’s conduct.
Shkreli was sentenced to seven years in prison in 2018 for defrauding investors, and became infamous after obtaining the rights to sell Daraprim and significantly raising the price. “Martin Shkreli and Vyera not only enriched themselves by despicably jacking up the price of this life-saving medication by 4,000 percent in a single day, but held this critical drug hostage from patients and competitors as they illegally sought to maintain their monopoly,” New York Attorney General Letitia James said in a statement. “We won’t allow ‘Pharma Bros’ to manipulate the market and line their pockets at the expense of vulnerable patients and the health care system.”