The FTC Settles With Vyera Pharmaceuticals For $40 Million
In early December 2021, the United States Federal Trade Commission (FTC), along with several state co-plaintiffs (New York, California, Illinois, North Carolina, Ohio, Pennsylvania, and Virginia), filed an order in court indicating a $40 million settlement had been reached with Vyera Pharmaceuticals. Readers may remember the “pharma bro” saga with former Vyera CEO Martin Shkreli, during which Vyera raise the price of Daraprim from $17.50 to $750 per tablet in 2015.
The order follows a January 2020 complaint against Shkreli, his associate Kevin Mulleady, their company Vyera Pharmaceuticals, LLC, and its parent company Phoenixus AG. Enforcers alleged that Shkreli (currently in prison for securities fraud) and Mulleady raised the price of Daraprim by 4000 percent and then created an elaborate web of restrictions to illegally block competitors from producing a cheaper option.
