Shkreli controversially raised the price of the drug Daraprim, which is used to treat a potentially fatal parasitic infection, by 4,000%, from $13.50 to $750 per pill in 2015. In January, a federal judge banned him from the pharmaceutical industry for life.
Blue Cross and Blue Shield of Minnesota has filed a class-action lawsuit — on behalf of itself and insurers from 30-plus states — against Martin Shkreli and Vyera Pharmaceuticals. The suit alleges the defendants intentionally monopolized the market for Daraprim to raise the price of the drug by more than 4,000%.
The ongoing nursing shortage facilitates high turnover rates since nurses know they won’t have difficulties finding new jobs. In order to retain and attract staff, it’s in a facility’s best interest to understand what nurses want.
The drug, used to treat toxoplasmosis infection, became the subject of notoriety in 2015 when manufacturer Turing Pharmaceuticals, then led by Shkreli, raised the price from $13.50 to $750 per pill, making it a poster child for the issue of high drug prices.
Led by Codiak BioSciences CEO Douglas Williams, the CEOs criticized Belcher Pharmaceuticals, which won approval for a drug used in certain heart procedures through the FDA's 505(b)(2) pathway.
In charges announced Monday, the agency says Vyera Pharmaceuticals - formerly Turing Pharma - used deals with distributors to prevent generic companies from obtaining samples and sales data for Daraprim. Vyera called the charges meritless.
The Wall Street Journal reported Thursday that the infamous former Turing Pharmaceuticals CEO was running the company with the aid of a contraband mobile phone.
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Nevertheless, the proposed policy could take Martin Shkreli-like practices "out of the ballgame," expert says.
Shkreli, 35, is serving a seven-year prison term for securities fraud (unrelated to Daraprim). Turing has renamed itself Vyera Pharmaceuticals. But Daraprim, which costs pennies to make and is used to treat the parasitic infection toxoplasmosis still retails for more than $750 per pill, according to drug website GoodRx.com.
Judge Kiyo Matsumoto has sentenced the poster child for pharmaceutical company greed to seven years after a jury found him guilty on one count of conspiracy to commit securities fraud and two counts of securities fraud.
The losses Martin Shkreli caused through securities fraud mean he could face several years in prison when he is sentenced next month.
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Evan Greebel acted as outside counsel for pharma company Retrophin from 2012 to 2014. Prosecutors alleged during that time Greebel assisted Martin Shkreli in using Retrophin’s assets to pay investors in unrelated hedge funds run by Shkreli through the use of phony settlement and consulting agreements.
From good news to bad news, 2017 was chock-full of noteworthy stories. But a few stood out among the rest. These are the five most-read articles published in 2017.
A judge has revoked bail for the pharma bro, who is waiting to be sentenced for securities fraud, over comments he made on Facebook offering a $5,000 bounty for samples of hair from former Secretary of State and presidential candidate Hillary Clinton.
After a drawn out week of deliberations, the now infamous "Pharma bro" Martin Shkreli has been found guilty on three out of eight counts heard in a Brooklyn Court.
Although he has been “banned” from Twitter, by Twitter, Martin Shkreli is allegedly using other accounts to Tweet about the trial. He’s also holding impromptu press conferences.