A drug company formerly run by Martin Shkreli was ordered to pay up to $40 million to settle allegations that it substantially raised prices of lifesaving medication
, the Federal Trade Commission said.
Vyera Pharmaceuticals LLC, which Mr. Shkreli ran as chief executive when it was called Turing Pharmaceuticals AG, purchased exclusive rights to antiparasitic drug Daraprim for $55 million in 2015 and raised the price of the drug to $750 per tablet from $17.50 a tablet, while preventing competitors from producing generic versions of it, according to court documents. The increase
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