Technology

Sucleri’s infamous 4,000% price increase puts him in a lifetime drug ban

expansion / / Martin Shkreli.

A federal court on Friday banned convicted scammer Martin Shkreli from working again in the pharmaceutical industry, raising the price of the life-saving drug Dalaprim by more than 4,000 percent from his infamous plan of $ 64.6 million. I ordered the profit to be repaid.

US District Judge Dennis Court Issue a lifetime ban After discovering that Sucreli is engaged in anti-competitive practices to protect Dalaprim’s monopoly interests.

According to a lawsuit filed by the Federal Trade Commission and seven states in New York, California, Illinois, North Carolina, Ohio, Pennsylvania, and Virginia, Sukurelli, former pharmaceutical company Viera (formerly Turing), and former Viera CEO Kevin Mollydi saidWeb of anti-competitive restrictions to eliminate competition“2015 after they purchased the rights to Dalaprim.

Dalaprim is an inexpensive decade-old antiparasitic drug used to treat toxoplasmosis. Toxoplasmosis can make people with weakened immunity (such as AIDS patients) sick and have a fatal effect on newborns. Shkreli and Mulleady set up complex schemes to keep medicines out of the hands of competitors, restricting suppliers from selling critical pharmaceutical ingredients to competitors, and revealing market size to competitors It is said that the disclosure of sales data was blocked.

Meanwhile, Shkreli and Mulleady have raised the list price of Daraprim from $ 17.50 per tablet to $ 750 by more than 4,000%.

Better tomorrow

In a Friday decision on Court, she said [Vyera’s] Illegal activity and its main responsibility have been for years, “she wrote.

of Press release On Friday, New York Attorney General Letitia James celebrated the decision with reference to Wu-Tang Clan.

“‘Jealousy, greed, desire, hatred’ isn’t just’separation’, but the imbalance in American life has motivated Mr. Cucelli and his partners to raise the price of life-saving drugs illegally. It’s clear, “said Attorney General James, referring to Wu-Tang Clan’s lyrics. Better tomorrow..

“But Martin Shkreli is no longer a pharmaceutical company, so Americans can rest assured … rich and powerful people can’t play with their own set of rules, so cash dominates everything around Mr. Shkreli. I don’t seem to be doing that, “said General James, a lawyer.

Friday’s ruling is: Reconciliation announced last month Vyera and its parent company, Phoenixus, have agreed to pay victims of the Daraprim scheme up to $ 40 million. The settlement also required companies to offer Dalaprim to competitors for a fee and banned them from participating in similar schemes for 10 years. Mulleady has been banned from the pharmaceutical industry for seven years.

Sucreli is now 2017 securities fraud conviction It was related to two hedge funds he ran before the Dalaprim scheme.Following his conviction of fraud, he Forfeited $ 7.36 million in assets, including the only copy of the Wu-Tang album Once Upon A Time In Shaolin, Purchased at auction from U-tan member RZA for $ 2 million in 2015.

https://arstechnica.com/?p=1826072 Sucleri’s infamous 4,000% price increase puts him in a lifetime drug ban

Back to top button