#Vyera Pharmaceuticals LLC

[deargodsno]

Martin Shkreli must return U$64.6 million (NZ$94.8m) in profits he and his former company reaped from jacking up the price and monopolising the market for a lifesaving drug, a US judge ruled while also barring the provocative, imprisoned ex-CEO from the pharmaceutical industry for the rest of his life.

US District Judge Denise Cote's ruling came several weeks after a seven-day bench trial in December that featured recordings of conversations that Cote said showed Shkreli continuing to exert control over the company, Vyera Pharmaceuticals LLC, from behind bars and discussing ways to thwart generic versions of its lucrative drug, Daraprim.

...The FTC and seven states – New York, California, Illinois, North Carolina, Ohio, Pennsylvania and Virginia – alleged in their case that Vyera hiked the price of Daraprim and illegally created “a web of anticompetitive restrictions” to prevent other companies from creating cheaper generic versions. Among other things, they alleged, Vyera blocked access to a key ingredient for the medication and to data the companies would want to evaluate the drug’s market potential.

Vyera and its parent company, Phoenixus AG, settled last month, agreeing to provide up to US$40 million in relief over 10 years to consumers and to make Daraprim available to any potential generic competitor at the cost of producing the drug. Former Vyera CEO Kevin Mulleady agreed to pay US$250,000 if he violates the settlement, which barred him from working for a pharmaceutical company” for seven years.

Shkreli proceeded to trial but opted not to attend the proceedings, instead submitting a written affidavit that served as his testimony.

The trial record included evidence showing Shkreli kept in regular contact with company executives, even after he went to prison. A spreadsheet kept by one executive showed more than 1500 contacts with Shkreli between December 2019 and July 2020.

A little bit of justice for Monday (NZ time).

[sharonsmith731]

'Pharma Bro' Firm Reaches $40M Settlement in Gouging Case

The FTC said Vyera Pharmaceuticals LLC and its parent company, Phoenixus AG, agreed to settle allegations that it gouged buyers and monopolized sales of Daraprim. Associated Press from Medscape Medical News Headlines https://www.medscape.com/viewarticle/964387?src=rss

[priyacmi]

Toxoplasmosis Treatment Drugs Market

Toxoplasmosis is an infection caused by parasite toxoplasma gondi. Moreover, toxoplasma gondi parasites are present in contaminated food. Moreover, accidental swallowing of the parasite spread through various sources like contact of cat feces, any infected blood, through infected organ transplantation, and drinking contaminated water, which can also cause toxoplasmosis infection. Toxoplasmosis infections can transmit toxoplasma gondi from the mother to child during pregnancy. Most patients suffering from toxoplasmosis infection recover without treatment but in case of serious toxoplasmosis infection, combination of pyrimethamine and sulfadiazine are usually prescribed by doctors. Additionally, the pyrimethazine drug also reduces the level of folic acid in patients, therefore, Vitamin B supplement is recommended along with pyrimethamine drug.  

Patients suffering from AIDS or HIV and toxoplasmosis may have to continue medication such as pyrimethamine for rest of their lives. Spiramycin is usually prescribed by the doctor in first and early second trimester stage of pregnancy to reduce the transmission of infection to the fetus. During the last and third trimester stage, a combination of pyrimethamine/sulfadiazine and leucovorin is prescribed for pregnancy cases.

Global Toxoplasmosis Treatment Drugs Market: Drivers

The global toxoplasmosis treatment drugs market is expected to witness significant growth during the forecast period as pharmaceutical companies are focusing on research and development of treatments for toxoplasmosis. For instance, in 2018, Vyera Pharmaceuticals LLC received the U.S. Food Drug and Administration (FDA) clearance to initiate Phase 1 study of the VYR-006, which is a potent dihydrofolate reductase (DHFR) inhibitor used for treatment of toxoplasmosis.

Moreover, the growing prevalence of HIV across the globe is increasing risk of toxoplasma gonad infection due to less immune response in HIV infected patients. For instance, according to the World Health Organization (WHO), by the end of 2018, around 37.9 million people across the globe had HIV, therefore it is expected to increase prevalence of toxoplasmosis infection among the global population.

Global Toxoplasmosis Treatment Drugs: COVID-19 Impact Analysis

The COVID-19 pandemic has impacted growth of several markets across the globe and it is also expected to hamper the growth of the global toxoplasmosis treatment drugs market during the forecast period. Moreover, safety precautions suggested by the World Health Organization to reduce the spread of COVID-19 and implementation of nationwide lockdowns have affected the supply chain of toxoplasmosis treatment drugs due to higher shipping prices because of reduced excipient supply containers.

Global Toxoplasmosis Treatment Drugs Market: Restraints

The use of pyrimethanine and sulfadiazine drugs are characterized by side effects in pregnant women such as injury to the fetus and bone marrow suppression. Moreover, according to U.S. Food Drug and Administration’s February 2020 report, the most common side effect of pyrimethamine is hypersensitivity, which leads to severe diseases such as Stevens-Johnson syndrome and toxic epidermal necrolysis. Furthermore, low dosage of promethazine can also cause hematologic effects in patients. These factors are expected to restrain growth of the global toxoplasmosis treatment drugs market.

Global Toxoplasmosis Treatment Drugs Market: Regional Analysis

On the basis of region, the global toxoplasmosis treatment drugs market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. In 2020, North America is expected to account the largest market share in the global toxoplasmosis treatment drugs market owing to factors such as the increasing prevalence of toxoplasmosis infection. According to the Centers for Disease Control and Prevention’s September 2018 report, in the U.S, around 11% of the population in the age group of 6 or older suffered from toxoplasma.

Furthermore, pharmaceutical companies are focusing on research and development of effective treatments for toxoplasmosis to strengthen their market share in the global toxoplasmosis treatment drugs market.  For instance, in February 2020, Cerovene Inc. obtained approval for generic Daraprim (pyrimethamine) tablet for treatment of toxoplasmosis from the U.S. FDA. The drug is used with combination of sulfonamide for treatment of toxoplasmosis bacterial infection.

Europe is expected to witness significant growth in the global toxoplasmosis treatment drugs market due to the rising prevalence of HIV in Europe. For instance, according to the World Health Organization’s 2018 report, over 2 million people in Europe were affected by HIV.

 https://www.coherentmarketinsights.com/insight/request-sample/4166

https://www.coherentmarketinsights.com/insight/request-pdf/4166

 Global Toxoplasmosis Treatment Drugs Market: Key Players

Key players operating in the global toxoplasmosis treatment drugs market are Vyera Pharmaceuticals LLC, Taj Accura Pharmaceuticals Ltd, Mangalam Drugs and Organics Ltd., Cerovene Healthcare PVT LTD, Greenstone LLC, Amneal Pharmaceuticals, Inc., Turing Pharmaceuticals, F. Hoffmann-La Roche AG, Teva Pharmaceutical Industries Ltd, and Baxter International Inc.

Market Taxonomy:

On the basis of indication, the global toxoplasmosis treatment drugs market is segmented into:

Chronic Toxoplasmosis Infection

Acute Toxoplasmosis Infection

On the basis of route of administration, the global toxoplasmosis treatment drugs market is segmented into:

Parental Route

Oral Route

On the basis of drug class, the global toxoplasmosis treatment drugs market is segmented into:

Pyrimethamine

Spiramycin

Leucovorin

Sulfadiazine

Clindamycin

Zithromax

Mepron

Clarithromycin

Others

On the basis of distribution channel, the global toxoplasmosis treatment drugs market is segmented into:

Hospital Pharmacies

Retail Pharmacies

Online Pharmacies

On the basis of region, the global toxoplasmosis treatment drugs market is segmented into:

North America

Latin America

Europe

Middle East

Asia Pacific

Africa

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions.

 What we provide:

Customized Market Research Services

Industry Analysis Services

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Phone: +1-206-701-6702

Email: sales@coherentmarketinsights.com

  Source:https://www.coherentmarketinsights.com/ongoing-insight/toxoplasmosis-treatment-drugs-market-4166

[itsfinancethings]

NEW YORK — State and federal authorities sued imprisoned drug entrepreneur Martin Shkreli on Monday over business tactics that helped make him the bad-boy face of profiteering in the pharmaceuticals industry, seeking to bar the so-called “Pharma Bro” from the industry for life.

Shkreli became infamous in 2015 for engineering a huge price hike for a long-existing medication for a sometimes life-threatening parasitic infection.

Monday’s lawsuit, filed by the New York attorney general’s office and the Federal Trade Commission, centers on actions his company took afterward that kept potential competitors at bay.

He and the company “held this critical drug hostage from patients and competitors as they illegally sought to maintain their monopoly,” Attorney General Letitia James said in a statement. “We won’t allow ‘Pharma Bros’ to manipulate the market and line their pockets at the expense of vulnerable patients and the health care system.”

Shkreli, 36, is currently serving a seven-year prison sentence for a securities-fraud conviction related to hedge funds he ran before getting into the pharmaceuticals industry in the early 2010s. His lawyers were preparing a response Monday.

Shkreli was CEO of Turing Pharmaceuticals — later Vyera Pharmaceuticals LLC and now Phoenixus AG — in 2015, when it acquired the rights to a drug called Daraprim. It has been used for six decades to treat toxoplasmosis, an infection that can be deadly for people with HIV or other immune-system problems and can cause birth defects if pregnant women get infected. They typically take the drug daily for several weeks, and sometimes for months or even years, according to the lawsuit.

The company boosted the cost from less than $20 to $750 per pill.

“Should be a very handsome investment for all of us,” Shkreli put it in an email to a contact at the time.

The increase sparked an outcry that fueled congressional hearings as some patients faced co-pays as high as $16,000.

Meanwhile, the company “kept the price of Daraprim astronomically high by illegally boxing out the competition,” FTC official Gail Levine said in a statement Monday.

The drug’s patent protection had expired, but the company used what’s known as a “closed distribution system” to restrict who could buy it — meaning that companies interested in making a generic version of Daraprim couldn’t get enough pills to do required testing, according to the lawsuit.

It also accuses the company of maneuvering to cut off potential rivals’ access to suppliers of a key ingredient for the medication, and shielding sales data that generic-drug manufacturers would want to evaluate the drug’s market potential.

“An elaborate, multi-part scheme” has likely kept cost consumers and other drug buyers from saving tens of millions of dollars by buying cheaper, generic alternatives, the suit says. To date, there is no generic version of Daraprim on the U.S. market.

The suit seeks unspecified financial relief and penalties, plus an order barring Shkreli from owning or working for any pharmaceutical company.

[vsplusonline]

‘Pharma Bro’ Martin Shkreli sued over drug price monopoly ‘scheme’

New Post has been published on https://apzweb.com/pharma-bro-martin-shkreli-sued-over-drug-price-monopoly-scheme/

‘Pharma Bro’ Martin Shkreli sued over drug price monopoly ‘scheme’

State and federal authorities sued imprisoned entrepreneur Martin Shkreli on Monday over tactics that shielded a profitable drug from competition after a price hike made the so-called “Pharma Bro” infamous.

Shkreli was scorned as the bad-boy face of pharmaceuticals profiteering after he engineered a roughly 4,000 per cent increase in the price of a decades-old medication for a sometimes life-threatening parasitic infection.

Monday’s lawsuit, filed by the New York attorney general’s office and the Federal Trade Commission, centres on subsequent actions by Shkreli and his former company.

READ MORE: ‘Pharma bro’ Martin Shkreli put in solitary confinement after allegedly using contraband smartphone

They “held this critical drug hostage from patients and competitors as they illegally sought to maintain their monopoly,” Attorney General Letitia James said in a statement.

At least four potential competitors have so far been kept from making cheaper generic versions of the medication, the suit says.

Story continues below advertisement

READ MORE: ‘Pharma Bro’ moved to low-security New Jersey prison with pool tables, music room

Lawyer Benjamin Brafman said Shkreli “looks forward to defeating this baseless and unprecedented attempt by the FTC to sue an individual for monopolizing a market.”

Shkreli, 36, is serving a seven-year prison sentence for a securities-fraud conviction related to hedge funds he ran before getting into the pharmaceuticals industry.

1:25 ‘Pharma Bro’ Martin Shkreli gets seven years for defrauding investors

‘Pharma Bro’ Martin Shkreli gets seven years for defrauding investors

Shkreli was CEO of Turing Pharmaceuticals — later called Vyera Pharmaceuticals LLC and Phoenixus AG — in 2015, when it acquired the rights to a drug called Daraprim. It is used to treat toxoplasmosis, an infection that can be deadly for people with HIV or other immune-system problems and can cause serious problems for children born to women infected while pregnant. Hospitalized patients typically take the drug daily for several weeks, and sometimes for months or even years, according to the lawsuit.

The company boosted the cost from less than US$20 to US$750 per pill.

“Should be a very handsome investment for all of us,” Shkreli put it in an email to a contact at the time.

READ MORE: ‘Pharma Bro’ Martin Shkreli may sacrifice prized Wu-Tang Clan album to pay off $7.36 million federal bill

The increase left some patients facing co-pays as high as US$16,000 and sparked an outcry that fueled congressional hearings.

Then the company “kept the price of Daraprim astronomically high by illegally boxing out the competition,” FTC official Gail Levine said in a statement Monday.

Story continues below advertisement

The drug’s patent protection had expired, but the company used what’s known as a “closed distribution system” to restrict who could buy it — meaning that companies interested in making a generic version of Daraprim couldn’t get enough pills to do required testing, according to the lawsuit. Many passages are redacted; the AG’s office explained that its investigation may have involved competitive corporate information.

1:58 Martin Shkreli’s lawyer speaks to media following 7-year-sentence handed down to his client

Martin Shkreli’s lawyer speaks to media following 7-year-sentence handed down to his client

The drug had previously been available from various wholesalers and distributors, but it was moved to closed distribution a few months before Turing bought the rights to it.

The lawsuit also accuses the company of manoeuvring to cut off potential rivals’ access to suppliers of a key ingredient for the medication and to data they would want to evaluate the drug’s market potential.

The “elaborate scheme to prevent generic competition” has likely cost consumers and other drug buyers tens of millions of dollars, the suit says.

To date, there is no generic version of Daraprim on the U.S. market.

3:00 Students in Sydney recreate drug Martin Shkreli hiked for fraction of price

Students in Sydney recreate drug Martin Shkreli hiked for fraction of price

The suit also names the company’s current chairman, Kevin Mulleady. Messages were left at a possible phone number for him and sent to an email address possibly associated with him.

The suit seeks unspecified financial relief and penalties, plus an order barring Shkreli and Mulleady from ever owning or working for any pharmaceutical company.

Story continues below advertisement

“We won’t allow `Pharma Bros’ to manipulate the market and line their pockets at the expense of vulnerable patients and the health care system,” said James, a Democrat.

Shkreli raised eyebrows with his behaviour both in business and elsewhere. He bought a one-of-a-kind, unreleased Wu-Tang Clan album for US$2 million, called members of Congress “imbeciles,” taunted prosecutors in the securities-fraud case against him, got kicked off of Twitter for harassing a female journalist and spent countless hours livestreaming himself from his apartment.

READ MORE: ‘Pharma bro’ Martin Shkreli convicted of securities fraud

While awaiting sentencing on his 2017 conviction, he offered his online followers a US$5,000 bounty for a lock of former Democratic presidential nominee and Secretary of State Hillary Clinton’s hair. His lawyers said it was a joke, but a judge revoked Shkreli’s bail and jailed him.

At his 2018 sentencing, Shkreli choked up, admitted making many mistakes and said he’d evolved.

“There is no conspiracy to take down Martin Shkreli,” he said. “I took down Martin Shkreli.”

© 2020 The Canadian Press

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[hellofastestnewsfan]

NEW YORK — State and federal authorities sued imprisoned drug entrepreneur Martin Shkreli on Monday over business tactics that helped make him the bad-boy face of profiteering in the pharmaceuticals industry, seeking to bar the so-called “Pharma Bro” from the industry for life.

Shkreli became infamous in 2015 for engineering a huge price hike for a long-existing medication for a sometimes life-threatening parasitic infection.

Monday’s lawsuit, filed by the New York attorney general’s office and the Federal Trade Commission, centers on actions his company took afterward that kept potential competitors at bay.

He and the company “held this critical drug hostage from patients and competitors as they illegally sought to maintain their monopoly,” Attorney General Letitia James said in a statement. “We won’t allow ‘Pharma Bros’ to manipulate the market and line their pockets at the expense of vulnerable patients and the health care system.”

Shkreli, 36, is currently serving a seven-year prison sentence for a securities-fraud conviction related to hedge funds he ran before getting into the pharmaceuticals industry in the early 2010s. His lawyers were preparing a response Monday.

Shkreli was CEO of Turing Pharmaceuticals — later Vyera Pharmaceuticals LLC and now Phoenixus AG — in 2015, when it acquired the rights to a drug called Daraprim. It has been used for six decades to treat toxoplasmosis, an infection that can be deadly for people with HIV or other immune-system problems and can cause birth defects if pregnant women get infected. They typically take the drug daily for several weeks, and sometimes for months or even years, according to the lawsuit.

The company boosted the cost from less than $20 to $750 per pill.

“Should be a very handsome investment for all of us,” Shkreli put it in an email to a contact at the time.

The increase sparked an outcry that fueled congressional hearings as some patients faced co-pays as high as $16,000.

Meanwhile, the company “kept the price of Daraprim astronomically high by illegally boxing out the competition,” FTC official Gail Levine said in a statement Monday.

The drug’s patent protection had expired, but the company used what’s known as a “closed distribution system” to restrict who could buy it — meaning that companies interested in making a generic version of Daraprim couldn’t get enough pills to do required testing, according to the lawsuit.

It also accuses the company of maneuvering to cut off potential rivals’ access to suppliers of a key ingredient for the medication, and shielding sales data that generic-drug manufacturers would want to evaluate the drug’s market potential.

“An elaborate, multi-part scheme” has likely kept cost consumers and other drug buyers from saving tens of millions of dollars by buying cheaper, generic alternatives, the suit says. To date, there is no generic version of Daraprim on the U.S. market.

The suit seeks unspecified financial relief and penalties, plus an order barring Shkreli from owning or working for any pharmaceutical company.

from TIME https://ift.tt/2U1DAC1