Six years after a national scandal erupted, a group of federal and state authorities have wrested a $40 million payout from the drug company once run by Martin Shkreli for drastically boosting the price of an old medicine and then concocting a scheme to illegally block competition. And his one-time friend and business partner, Kevin Mulleady, was banned from the pharmaceutical industry for seven years.
The infamous saga began when Vyera Pharmaceuticals, previously known as Turing Pharmaceuticals, bought Daraprim, a drug taken by HIV patients, and raised the price by more than 4,000% — from $17.50 a tablet to to $750. The move galvanized criticism of the pharmaceutical industry at a moment when the cost of prescription drugs was becoming a pocketbook issue for many Americans. Unlock this article by subscribing to STAT+ and enjoy your first 30 days free! GET STARTED STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. What’s included? Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. This name will appear with your comment
https://www.statnews.com/pharmalot/2021/12/07/shkreli-daraprim-turing-vyera-monopoly/
