Attorney General Raoul Announces Latest Win Against Martin Shkreli For Illegal Scheme To Monopolize Lifesaving Drug
CHICAGO - Attorney General Kwame Raoul announced that a federal appeals court upheld a court order that Illinois, the Federal Trade Commission (FTC), and six other states won against Martin Shkreli, who was previously convicted for engaging in illegal and monopolistic behavior as the CEO of Vyera Pharmaceuticals, previously known as Turing Pharmaceuticals. Raoul said the U.S. Court of Appeals for the 2nd Circuit affirmed the January 2022 lower court’s decision , which found that Shkreli violated both federal and state laws by engaging in an illegal scheme to maintain a monopoly over a lifesaving drug, Daraprim, after increasing its price by over 4,000%. As a result, Shkreli is banned for life from participating in the pharmaceutical industry and ordered to pay $64.6 million. “I am pleased this decision was upheld because Illinois residents’ lives depend upon pharmaceutical companies and their officers operating fairly and with patients’ best interests in
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