On January 14, 2022, the U.S. District Court for the Southern District of New York imposed a lifetime ban on “Pharma Bro” Martin Shkreli, perhaps the most notorious “bad actor” in the pharmaceutical industry, and required that he pay $65 million in excess profits he obtained from anticompetitive conduct relating to the drug Daraprim. FTC v. Shkreli, 2022 WL 135026 (S.D.N.Y. Jan. 14, 2022). In their lawsuit, the Federal Trade Commission (FTC) and seven states challenged actions taken by Shkreli’s company, Vyera (formerly Turing), to delay generic competition. Vyera, its parent company Phoenixus AG, and former Vyera CEO Kevin Mulleady settled with the plaintiffs before trial, which resulted in the court’s ruling addressing only Shkreli. Id. at *2. The U.S. Food and Drug Administration (FDA)
The US District Court for the Southern District of New York imposes a lifetime ban against a pharmaceutical executive and requires $65M payment for antitrust violation (Martin Shkreli)
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