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NY, feds sue ‘Pharma Bro’ for ‘scheme’ to keep drug price up

NEW YORK (AP) – State and federal authorities are suing imprisoned drug entrepreneur Martin Shkreli over business tactics that helped make him the bad-boy face of profiteering in the pharmaceuticals industry. New York Attorney General Letitia James and the Federal Trade Commission filed suit Monday, seeking to bar the so-called “Pharma Bro” from the industry for life. Shkreli became infamous in 2015 for engineering a huge price hike for a long-existing medication for a sometimes life-threatening parasitic infection. Monday’s lawsuit centers on actions his company took afterward that kept potential competitors at bay. His lawyers were preparing a response.


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