Martin Shkreli must face antitrust suit, judge rules

A federal judge has declined to dismiss an antitrust suit against “Pharma Bro” Martin Shkreli and Retrophin, the biotech he founded, according to Bloomberg Law.

Advertisement

The lawsuit, brought by generics maker Spring Pharmaceuticals, claims Mr. Shkreli and his company unlawfully shielded a kidney drug, Thiola, from competition by refusing to put out samples that companies must use to demonstrate the effectiveness of their generics.

The ruling comes just over a week after  Mr. Shkreli was placed in solitary confinement after a report surfaced that he was using a contraband cellphone to run his Phoenixus AG, pharmaceutical company from prison.

Mr. Shkreli gained notoriety for inflating the price of a lifesaving anti-infection drug more than fiftyfold. The move, paired with his lack of remorse, earned Mr. Shkreli the nickname “pharma bro.”

He is serving a seven-year prison sentence for defrauding investors.

The lawsuit also names two other companies, Mission Pharmacal and Alamo Pharmacy Services, as defendants.

More articles on pharmacy:
PBM hearing should prompt bill to ban ‘secrecy’ in drug industry, senator says
Republicans tell drugmakers that complying with House probe could hurt their stock prices
Hawaii primary care network opens in-house pharmacy

At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.

Register to Attend Webinar

The Performance Gap Your Pharmacy Training Metrics Can’t See

Monday, August 10
12:00 PM - 1:00 PM CDT

Presenters: Michael Alexander, AudirieDr. Tina Moen, PharmD, Colibri Healthcare

Advertisement

Next Up in Pharmacy

Advertisement

Comments are closed.