Where the Comment is King

THE NEWS COMMENTER

VOTE  (0)  (0)

'Pharma Bro' firm reaches $40M settlement in gouging case

Added 12-08-21 06:04:03am EST - “A company once owned by jailed "Pharma Bro" Martin Shkreli has agreed to settle allegations that it jacked up the price of a life-saving medication by roughly 4 ,000% after obtaining exclusive rights to the drug.” - Aol.com

CLICK TO SHARE

Posted By TheNewsCommenter: From Aol.com: “'Pharma Bro' firm reaches $40M settlement in gouging case”. Below is an excerpt from the article.

SACRAMENTO, Calif. (AP) — A company once owned by "Pharma Bro" Martin Shkreli will pay up to $40 million to settle allegations that it jacked up the price of a life-saving medication by roughly 4 ,000% after obtaining exclusive rights to the drug, the Federal Trade Commission announced Tuesday.

The FTC said Vyera Pharmaceuticals LLC and its parent company, Phoenixus AG, agreed to settle allegations that it gouged buyers and monopolized sales of Daraprim, which is used to treat toxoplasmosis, an infection that can be deadly for people with HIV or other immune-system problems and can cause serious problems for children born to women infected while pregnant. 

Vyera raised the price of the decades-old drug from $17.50 to $750 per pill after obtaining exclusive rights to it in 2015. 

“Should be a very handsome investment for all of us,” Shkreli put it in an email to a contact at the time.

The increase left some patients facing co-pays as high as $16,000 and sparked an outcry that fueled congressional hearings.

Read more...

If you don't see any comments yet, congrats! You get first comment. Be nice and have fun.

Comment Box is loading comments...

CLICK TO SHARE

BACK TO THE HOME-PAGE