“Pharma Bro” Martin Shkreli’s former company and former business partner agreed Tuesday to settle legal claims brought against them by the U.S. and seven state governments arising from the company’s purchase of and 4,000% price increase on the drug Daraprim, which is used to treat toxoplasmosis in patients with HIV.
The U.S. Federal Trade Commission (FTC) and its state co-plaintiffs—New York, California, Illinois, North Carolina, Ohio, Pennsylvania, and Virginia—will get up to $40 million from Vyera (formerly Turing) Pharmaceuticals and its parent company Phoenixus AG. Shkreli’s ex-partner Kevin Mulleady “will generally be banned from working for, consulting for, or controlling a pharmaceutical company for seven years,” according to the FTC.
“Pharma Bro” Martin Shkreli’s former company and former business partner agreed Tuesday to settle legal claims brought against them by the U.S. and seven state governments arising from the company’s purchase of and 4,000% price increase on the drug Daraprim, which is used to treat toxoplasmosis in patients with HIV.
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