Additionally, the FTC and AG James alleged that the defendants’ anticompetitive practice delayed the entry of generic versions of Daraprim into the market until today.
Shkreli’s business partner, Kevin Mulleady is also a defendant in the lawsuit. He allegedly directly orchestrated the pharmaceutical company’s anticompetitive scheme.
The FTC and AG James are seeking monetary relief for the victims of the defendant’s illegal conduct. They also asked the courts to issue an order prohibiting Shkreli from working in the pharmaceutical industry for life. Shkreli is convicted of securities fraud and currently serving a seven-year sentence in federal prison. They are also seeking a lifetime ban on Mulleady working in the pharmaceutical industry.
Stopping “egregious conduct”
In a statement, AG James said, “Martin Shkreli and Vyera not only enriched themselves by despicably jacking up the price of this life-saving medication by 4,000 percent in a single day, but held this critical drug hostage from patients and competitors as they illegally sought to maintain their monopoly.”
