Jan 28, 2020 - Health

Martin Shkreli sued again for allegedly violating antitrust law

Martin Shrekli

Photo: Drew Angerer/Getty Images

Federal officials and New York state have sued Martin Shkreli for allegedly violating antitrust law when he raised the price of Daraprim by 4,000%, Bloomberg reports. Shkreli is already in prison on a separate charge.

Why it matters: Shkreli and Vyera Pharmaceuticals, formerly Turing Pharmaceuticals, became the face of out-of-control drug pricing. The lawsuit suggests that such behavior could have been illegal.

Details: The massive Daraprim price hike came in 2015, after Shkreli acquired the drug.

  • The Federal Trade Commission and New York say that he also blocked generic competitors through contractual restrictions.

The other side: "Mr. Shkreli looks forward to defeating this baseless and unprecedented attempt by the FTC to sue an individual for monopolizing a market," Benjamin Brafman, Shkreli’s lawyer, said in a statement.

Go deeper: Martin Shkreli runs his company from prison

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