FTC-PR-240123-2 Jan. 23, 2024 Statement on Second Circuit Order Upholding “Pharma Bro” Martin Shkreli’s Lifetime Ban Today, the United States Court of Appeals for the Second Circuit affirmed a district court ruling which ordered “Pharma Bro” Martin Shkreli to face a lifetime ban from participating in the pharmaceutical industry and found Shkreli liable for $64.6 […]
Category: Anti-competitive Pharmaceutical Schemes
Anti-competitive Pharmaceutical Schemes involve tactics used by drug companies to hinder competition and keep drug prices high. A common tactic is “pay-for-delay,” where a brand-name drug maker compensates a generic manufacturer to delay the introduction of a more affordable generic version, thereby keeping prices elevated. Another tactic is “evergreening,” where a company makes minor modifications to a drug’s formulation or delivery method to extend its patent protection and postpone the availability of generics. These practices restrict market competition, resulting in higher drug costs and reduced access to affordable medications.