Jan 28, 2020 - Health

Martin Shkreli sued again for allegedly violating antitrust law

Caitlin Owens

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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Martin Shkreli sued again for allegedly violating antitrust law

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