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Attorney General James Secures $ 40 Million From Vyera Pharmaceuticals, Bans Pharmaceutical Company Executive For Seven Years

 


Vyera and former CEO Kevin Mulleady stifled competition after
More than 4000% price increase for life-saving drug

Defendants to pay up to $ 40 million for ill-gotten gains restitution

Lawsuit against “Pharma Bro” Martin Shkreli, mastermind of
Monopoly scheme, to start later this month

NEW YORK – New York Attorney General Letitia James today announced a deal that will end the illegal and monopolistic behavior of Vyera Pharmaceuticals – formerly Turing Pharmaceuticals – and one of its former CEOs, Kevin Mulleady. The deal also requires the company to pay up to $ 40 million and bans Mulleady from almost any role at a pharmaceutical company for seven years. Attorney General James is continuing his legal action against the remaining defendant Martin Shkreli, the former CEO of Vyera who was the architect of the illegal scheme. The trial against Shkreli is scheduled to begin on December 14. In January 2020, Attorney General James and the Federal Trade Commission (FTC) filed a lawsuit against Vyera, Shkreli and Mulleady for violations of antitrust rules that stifled competition and allowed defendants to protect and maintain their monopoly profits from their over 4,000 percent overnight increase – to $ 750 a pill – in the drug Daraprim (pyrimethamine). Daraprim is used to treat toxoplasmosis, a parasitic disease, and, until relatively recently, was the only source of this life-saving drug approved by the United States Food and Drug Administration (FDA).

“Vyera and Mulleady, as well as Martin Shkreli, have shamelessly engaged in illegal conduct that has allowed them to maintain their exorbitant and monopolistic price of a life-saving drug – leaving the pharmaceutical brothers to get rich, while d ‘others were paying the price, “said Attorney General James. “We are forcing the company to pay up to $ 40 million to make up for its ill-gotten gains and have now banned one of the CEOs of the pharmaceutical industry for seven years. Our lawsuit against “pharmaceutical brother” Martin Shkreli will begin later this month, where we will expose Mr. Shkreli’s greedy, dangerous and anti-competitive behavior. New Yorkers can be confident that my office will do everything in its power to protect their health and their wallets, and take all possible steps to hold businesses – and individuals – accountable for their illegal and anti-competitive behavior.

Daraprim was, until recently, the only drug approved by the FDA for the treatment of toxoplasmosis, a parasitic disease that can have serious and often fatal consequences for people with weakened immune systems, including babies born to women infected with the disease and people with human immunodeficiency virus (HIV). Until recently, Daraprim was the only drug approved by the FDA to treat acute toxoplasmosis, and it was the gold standard for decades – recommended by the Centers for Disease Control and Prevention, the National Institutes of Health, the HIV Medicine Association and the Infectious Diseases Society of America as the initial treatment of choice for acute toxoplasmosis. Nonetheless, and although it had not been patented, there had never been a generic version of Daraprim sold in the United States, until recently.

Before Mulleady and Shkreli got involved, Daraprim was cheap and accessible for decades. Then, in August 2015, Vyera bought the drug, drastically increased the price overnight, changed its distribution, and engaged in other behaviors to delay and hamper generic competition, all in order to be able to maintain the new exorbitant price. The high price and changes in distribution have limited access to the drug, forcing many patients and doctors to make difficult and risky decisions for the treatment of a potentially fatal disease.

The illegal scheme perpetrated by Vyera, Shkreli and Mulleady involved restrictive distribution and supply agreements, as well as data secrecy, with the intent and effect of delaying the entry of low-cost generic competitors.

In April 2020, the states of California, Illinois, North Carolina, Ohio, Pennsylvania and Virginia joined the trial of Attorney General James and the FTC.

In the months leading up to this month’s trial, the court made several important decisions in favor of the plaintiffs, including a ruling regarding the ability of the Attorney General’s Office (OAG) to obtain fair monetary redress when individuals or companies repeatedly or persistently commit illegal acts. acts in the state. This decision confirmed the power of the OAG to seek restitution of ill-gotten gains, regardless of where they were obtained, where the conduct has a connection to New York.

The terms of today’s deal include a strict injunction against the defendant company and Mulleady to avoid a repeat of a similar plan. In addition to the $ 40 million Vyera will pay for his wrongdoing, Mulleady will be subject to a seven-year ban from the pharmaceutical industry. Mulleady has also agreed to limit its holdings in any pharmaceutical company to nominal amounts, for 10 years.

Mulleady’s industry ban is a New York City first in an antitrust case and reflects Attorney General James’ policy that corporate executives who are personally and substantially involved in illegal schemes should be held accountable, not only the corporate entity.

The OAG would like to thank the staff and management of the FTC for their partnership in this important matter, as well as the assistance of the staff and management of its co-complainant states: California, Illinois, North Carolina, Ohio, Pennsylvania and Virginia.

The dispute was handled by Deputy Attorneys General Saami Zain, Jeremy Kasha, Bryan Bloom and Mario Cistaro, as well as paralegal Arlene Leventhal, all under the supervision of Deputy Antitrust Office Chief Amy McFarlane and Antitrust Office Chief Elinor. Hoffmann. The Antitrust Office is part of the Economic Justice Division, which is overseen by Chief Deputy Attorney General Chris D’Angelo and Senior Deputy Attorney General Jennifer Levy.

Sources

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2/ https://ag.ny.gov/press-release/2021/attorney-general-james-secures-40-million-vyera-pharmaceuticals-bans-corporate

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