Yost Helps Shut Down Pharma Scheme That Exploited Patients Needing Lifesaving Drug
Ohio's Attorney General Dave Yost and attorneys general in 6 other states along with the Federal Trade Commission have reached a $40 million settlement with Vyera Pharmaceuticals and its parent company.
The case involves an illegal scheme by the founding CEO of Vyera, Martin Shkreli, who raised the price of the lifesaving drug Daraprim by 4,0000%. A complaint filed by Yost and others alleged that Shkreli and another former Vyera CEO violated antitrust laws by establishing a company to buy Daraprim, raising the price dramatically, and then blocking generic competitors.
Daraprim had been the only drug FDA approved to treat toxoplasmosis, a serious infection caused by a common parasite. A generic version of the drug is now available in the U.S.