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Statement on Second Circuit Order Upholding “Pharma Bro” Martin Shkreli’s Lifetime Ban
Vyera Pharmaceuticals, LLC
The Federal Trade Commission and a group of seven state enforcers filed a complaint in federal district court against Vyera Pharmaceuticals, LLC, alleging an elaborate anticompetitive scheme to preserve a monopoly for the life-saving drug, Daraprim. The Commission vote to issue the complaint was 5-0. The complaint was filed on Jan. 27, 2020, in the U.S. District Court for the Southern District of New York. In a Jan. 14, 2022 ruling, U.S. District Court Judge Denise Cote found Shkreli’s conduct “egregious, deliberate, repetitive, long-running, and ultimately dangerous.” Judge Cote banned Shkreli for life from the pharmaceutical industry.
On January 23, 2024, the U.S. Court of Appeals for the Second Circuit affirmed the U.S. District Court for the Southern District of New York’s ruling.
Biopharmaceutical Giant Amgen to Settle FTC and State Challenges to its Horizon Therapeutics Acquisition
FTC Sues to Block Biopharmaceutical Giant Amgen from Acquisition That Would Entrench Monopoly Drugs Used to Treat Two Serious Illnesses
FTC Files Amicus Brief in Sage Chemical vs. Supernus Pharmaceutical Supporting Competition in the Market for Drug Used to Treat Advanced Parkinson’s Disease
Sage Chemical, Inc. et al. v. Supernus Pharmaceuticals, Inc. et al.
FTC Asks Federal Court to Hold ‘Pharma Bro’ Martin Shkreli in Contempt
FTC Approves Final Order Preserving Competition for Development and Marketing of Steroid Injectable Drug
Hikma Pharmaceuticals/Custopharm
As a condition of Hikma Pharmaceuticals PLC’s $375 million acquisition of generic drug services company Custopharm, Inc., the Federal Trade Commission required Custopharm’s parent company, private equity fund Water Street Healthcare Partners, LLC to retain and transfer Custopharm’s assets related to the corticosteroid drug triamcinolone acetonide, or TCA, to another company Water Street owns, Long Grove Pharmaceuticals, LLC. According to the complaint, absent a remedy, Hikma likely would have stopped developing its injectable TCA product, forestalling the increased price competition it would have brought to the market. Thus without this remedy, the acquisition likely would have harmed future competition in the U.S. market for injectable triamcinolone acetonide.
Federal Trade Commission Preserves Competition for Development and Marketing of Steroid Injectable Drug
FTC Approves Sartorius Stedim Biotech S.A.’s Petition for Prior Approval of its Acquisition of the Chromatography Equipment Business of Novasep Process SAS
Danaher Corporation, In the Matter of
In 2020, Danaher Corporation agreed to divest assets to settle Federal Trade Commission charges that its proposed $21.4 billion acquisition of General Electric’s biopharmaceutical business, GE Biopharma, would violate federal antitrust law. Sartorius Stedim Biotech S.A. is the approved divestiture buyer. Sartorius agreed to obtain the Commission’s prior approval if it proposed to acquire Novasep Process SAS’s chromatography equipment business. On Feb. 1, 2022, the Commission announced that it granted Sartorius’s petition to proceed with this acquisition.
Statement of Chair Lina M. Khan on the Ruling by Judge Denise L. Cote Federal Trade Commission et al v. Vyera Pharmaceuticals, LLC et al
FTC Approves Final Order Requiring Generic Drug Marketers ANI Pharmaceuticals, Inc. and Novitium Pharma LLC to Divest Rights and Assets to Generic Sulfamethoxazole-Trimethoprim Oral Suspension and Generic Dexamethasone Tablets
FTC, States to Recoup Millions in Relief for Victims Fleeced by ‘Pharma Bro’ Scheme to Illegally Monopolize Life-Saving Drug Daraprim
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