‘CLOSER LOOK’

Now Two AG Offices Are Looking Into Shkreli’s New Drug Software Venture

Shkreli was banned for life from the pharmaceutical industry earlier this year for conduct at his former drug company.

The New York and North Carolina attorney general’s offices are looking into former pharma bro Martin Shkreli’s latest venture, representatives told The Daily Beast. Shkreli recently launched a company called Druglike, a decentralized "drug discovery platform" that Shkreli claimed would “disrupt the economics of the drug business.” The announcement raised eyebrows given that Shkreli was banned from the industry for life earlier this year, after the Federal Trade Commission and seven state attorneys general sued him for “monopolistic behavior” at his former drug company, Turing Pharmaceuticals. (The company famously hiked up the price of a life-saving drug by 5,000 percent.) A disclaimer at the bottom of the Druglike press release stating that it was “not a pharmaceutical company” did not seem to deter critics. A spokesperson for North Carolina Attorney General Josh Stein, one of the attorneys general who sued Shkreli, told The Daily Beast the office was “concerned about this development and will be taking a closer look.” The New York attorney general's office told The Daily Beast it was also looking into the new venture. The FTC declined to comment.

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Emily ShugermanSenior Reporter

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