The US Federal Trade Commission (FTC) and the state of New York filed suit Monday against disgraced pharmaceutical executive Martin Shkreli and Vyera Pharmaceuticals for stifling competition to protect the monopolistic pricing of the drug Daraprim (pyrimethamine).
Daraprim is used to treat toxoplasmosis, and despite Vyera Pharmaceuticals being the only Food and Drug Administration (FDA) approved source of the medication, Shkreli and Vyera raised the price of the drug by more than 4,000 percent overnight, from $17.50 to $750 per tablet, after they purchased the rights to Daraprim in August 2015.
