Martin Shkreli must face antitrust suit, judge rules

Alia Paavola - Print  | 

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.

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.

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