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Wed Dec 8, 2021, 05:45 AM

Martin Shkreli 'Pharma Bro' Firm Reaches $40M Settlement in Gouging Case

Source: NBC Washington

A company once owned by “Pharma Bro" Martin Shkreli will pay up to $40 million to settle allegations that it jacked up the price of a life-saving medication by roughly 4,000% after obtaining exclusive rights to the drug, the Federal Trade Commission announced Tuesday.

The FTC said Vyera Pharmaceuticals LLC and its parent company, Phoenixus AG, agreed to settle allegations that it gouged buyers and monopolized sales of Daraprim, which is used to treat toxoplasmosis, an infection that can be deadly for people with HIV or other immune-system problems and can cause serious problems for children born to women infected while pregnant.

Vyera raised the price of the decades-old drug from $17.50 to $750 per pill after obtaining exclusive rights to it in 2015.

“Should be a very handsome investment for all of us,” Shkreli put it in an email to a contact at the time.

Read more: https://www.nbcwashington.com/news/national-international/pharma-bro-firm-reaches-40m-settlement-in-gouging-case/2903839/

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Reply Martin Shkreli 'Pharma Bro' Firm Reaches $40M Settlement in Gouging Case (Original post)
TexasTowelie Dec 8 OP
cstanleytech Dec 8 #1
essaynnc Dec 8 #2
oldsoftie Dec 8 #3
Ford_Prefect Dec 8 #4
IcyPeas Dec 8 #5
bello Dec 9 #6

Response to TexasTowelie (Original post)

Wed Dec 8, 2021, 06:00 AM

1. Shkreli like Trump is a perfect example of a walking piece of shit. nt

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Response to TexasTowelie (Original post)

Wed Dec 8, 2021, 06:09 AM

2. One question...

Did $40 million hurt enough???

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Response to essaynnc (Reply #2)

Wed Dec 8, 2021, 06:58 AM

3. Exactly. He hurt untold numbers of invesotrs with his short selling long before this case.

YEARS before. He hurt drug development by shorting thinly traded companies & driving them down

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Response to essaynnc (Reply #2)

Wed Dec 8, 2021, 10:47 AM

4. 2nd question: Have they put the prices back down?

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Response to TexasTowelie (Original post)

Wed Dec 8, 2021, 01:24 PM

5. great. now do the rest of the pharmaceutical companies.

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Response to TexasTowelie (Original post)

Thu Dec 9, 2021, 12:00 AM

6. Is shkrelli any worse than Heather Bresch?

I’ll give you that Shkrelli has the most punchable face I have ever seen. However, was what he did all that much worse than what Heather Bresch did at Mylan? It took a $345M settlement to make her mess go away. Why was she never personally charged? I’m sure that it had nothing, nothing to do with the fact that she is Joe Manchin’s daughter. -B

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