Martin Shkreli Accused of Drug Monopoly Scheme by Insurer
- COURT: S.D.N.Y.
- TRACK DOCKET:No. 21-cv-1884 (Bloomberg Law Subscription)
- COMPANY INFO:Vyera Pharmaceuticals LLC (Bloomberg Law Subscription)
Martin Shkreli arrives at federal court in Brooklyn, New York, on Aug. 3, 2017.
Photographer: Peter Foley/BloombergThis article is for subscribers only.
A Blue Cross Blue Shield affiliate sued “Pharma Bro” Martin Shkreli, the pharmaceutical industry’s imprisoned enfant terrible, in a Manhattan federal court Thursday, alleging a scheme to monopolize the market for Daraprim, the “gold-standard treatment” for the parasitic infection toxoplasmosis.
Shkreli’s companies raised the drug’s price by more than 4,000% after acquiring the rights in 2015, then conspired to “thwart generic competition” through “deception and fraud” while claiming “their scheme was necessary to serve patients,” the complaint says. “None of their claims were truthful.”