The Federal Trade Commission filed a lawsuit in opposition to Martin Shkreli, also called “pharma bro,” on Friday, asking a federal decide to carry him in contempt of court charges for forming a new drug firm in violation of a earlier business ban.
In January 2022, the U.S. district court decide Denise Cote banned Shkreli for all times from working within the pharmaceutical business, charging him with anti-competitive practices associated to the antiparasitic drug Daraprim throughout his tenure as CEO at Vyera Pharmaceuticals.
In a press launch, the FTC mentioned that Shkreli has didn’t company with the company in its investigation into whether or not he has violated the ban “by forming and operating his new company, “Druglike, Inc.”
“Martin Shkreli’s failure to comply with the court’s order demonstrates a clear disregard for the law,” Director of the FTC’s Bureau of Competition Holly Vedova remarked.
“The FTC will not hesitate to deploy the full scope of its authorities to enable a comprehensive investigation into any potential misconduct.”
Developed by Burroughs-Wellcome, a unit of GSK (GSK), Daraprim was till lately the one U.S.-approved medicine to deal with toxoplasmosis.
Vyera, then often called Turing Pharmaceuticals, purchased the unique rights for the drug in 2015 and jacked up its value to $750 from $13.50 per tablet. Shkreli was launched from jail final 12 months.