Vyera Pharmaceuticals to pay $40 million for illegally monopolizing Daraprim; Pharma Bro Martin Shrekli to face trial

Martin Shkreli picture

Vyera Pharmaceuticals and its parent company Phoenixus AG (formerly Turing Pharmaceuticals) agreed to a $40 million settlement for illegally monopolizing Dapaprim, according to the Federal Trade Commission (FTC).

Daraprim is the only FDA-approved life-saving drug that contains pyrimethamine – the gold standard for treating people with a parasitic infection called toxoplasmosis.

In 2020, the FTC and New York Attorney General Letitia James filed a lawsuit against Vyera Pharmaceuticals, its co-founders Martin Shkreli also known as Pharma Bro, and Kevin Mulleady for allegedly engaging in an elaborate scheme to maintain its illegal monopoly of Daraprim.

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The states of California, Illinois, North Carolina, Ohio, Pennsylvania, and Virginia joined the lawsuit against the defendants.

The FTC and its state co-plaintiffs alleged that Vyera Pharmaceuticals, Shkreli, and Mulleady dramatically increased Daraprim’s price from $17.50 to $750 per tablet after acquiring the rights to the life-saving drug in August 2015.