Follow Our Live Coverage of COVID-19 Developments

Drug Price-Fixing Charge Laid Against 'Pharma Bro' Martin Shkreli

Former drug industry executive charged with restricting competition to maintain a monopoly on the drug Daraprim

TUESDAY, Jan. 28, 2020 (HealthDay News) -- So-called "Pharma Bro" Martin Shkreli faces charges of price fixing of a drug used to treat the potentially fatal condition toxoplasmosis.

The former drug industry executive and Vyera Pharmaceuticals have been charged with allegedly restricting competition to maintain a monopoly on the drug Daraprim, the U.S. Federal Trade Commission said Monday, CBS News reported.

Former drug industry executive Kevin Mulleady and Phoenixus AG, Vyera's parent company, are also charged.

Shkreli, currently serving a seven-year sentence for securities fraud, became notorious in the United States after his company, Turing Pharmaceuticals, bought the U.S. rights to Daraprim and then boosted the drug's price by about 4,000 percent to $750 a pill.

CBS News Article

Last Updated: