More than four years after Martin Shkreli incensed Americans by raising the price of a life-saving medicine by more than 4,000%, the Federal Trade Commission and the New York attorney general sued the infamous “pharma bro” for trying to corner the market for such drugs.

The joint action accused Shkreli and Vyera Pharmaceuticals, which was formerly known as Turing Pharmaceuticals, of scheming to “illegally” prevent would-be generic competitors from selling a version of Daraprim. Shortly after purchasing the decades-old drug, which is the only drug approved in the U.S. to treat a serious parasite infection that afflicts people with HIV, the list price was raised from $17.50 to $750 per tablet.

Unlock this article by subscribing to STAT Plus and enjoy your first 30 days free!

GET STARTED

What is it?

STAT Plus is STAT's premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond.

What's included?

  • Daily reporting and analysis
  • The most comprehensive industry coverage from a powerhouse team of reporters
  • Subscriber-only newsletters
  • Daily newsletters to brief you on the most important industry news of the day
  • STAT+ Conversations
  • Weekly opportunities to engage with our reporters and leading industry experts in live video conversations
  • Exclusive industry events
  • Premium access to subscriber-only networking events around the country
  • The best reporters in the industry
  • The most trusted and well-connected newsroom in the health care industry
  • And much more
  • Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr.
  • Wonderful lesson being taught by Mr. Shkreli, in the same vein as President Trump. He’s simply doing what pharma companies do on a grand scale and pointing it out for the world to see.

    • Mr shkreli is a registered democrat and show typical wealthy liberal behaviour.

      Nothing to do with Trump but clearly you suffer from TDS as well

    • Anthony doesn’t understand how this works yet:
      Sometimes it takes the right man for the right place at the right time. President Trump is one of those men.
      Shkreli provides a similarly wonderful lesson. He’s not allowed to play in the pharmaceutical playground because he’s an outsider.
      Both are serving their purpose amazingly well.

  • It’s human nature. They think a lawsuit can stop “it”? The whole industry:

    — many of the execs —
    — many of the hedge funds —
    — some in the FDA —
    — the corrupt lawyers who handle class action lawsuits —
    — the overworked and arrogant courts that then give these companies slaps on the wrist for lying and investors nothing —
    .. is in on multiple layers of scams and manipulation.

    Stupid.

    And in this case, fwiw, they did actually fund new research in the area.

  • If memory serves, I have asked whatever happened to the promise of price reductions for Daraprim.
    It would seem there is an answer – sadly, nothing. Not unexpected but still …. sad.

Comments are closed.

A roundup of STAT’s top stories of the day in science and medicine

Privacy Policy