Martin Shkreli to go toe-to-toe with new FTC chair over Daraprim price spikes
Much ink has been spilled over “Pharma Bro” Martin Shkreli, the entrepreneur who raised the price of a lifesaving antiparasitic more than 55-fold overnight and is currently serving a seven-year prison sentence for securities fraud.
But he’s also facing antitrust charges from the FTC and the agency’s new chair Lina Khan, and a court date has finally been set for the case.
Shkreli has been ordered to appear in person for the antitrust trial on Dec. 14, as Khan looks to bring the hammer down on what the FTC alleges were monopolistic practices by Turing Pharmaceuticals, now Vyera. Regulators have asserted that Vyera attempted to buy up most — if not all — supply of the drug that catapulted Shkreli into infamy, Daraprim, in order to prevent generic competition.
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