Robins Kaplan Appointed Interim Lead Counsel in Antitrust Class Action Against Martin Shkreli and His Former Companies
May 10, 2021
Robins Kaplan LLP is pleased to announce that it has been appointed Interim Lead Counsel in a proposed class action against Martin Shkreli, the former CEO of Turing Pharmaceuticals, and three other defendants for allegedly illegally monopolizing the market for Daraprim—a once-affordable, life-saving drug, whose price increased by more than 4,000 percent under Shkreli’s leadership. The case, BCBSM, Inc. v. Vyera Pharmaceuticals, LLC et al. No. (1:21-cv-1884), is pending in the United States District Court for the Southern District of New York.
Robins Kaplan filed the first private lawsuit in the country against Shkreli and the other defendants on behalf of Blue Cross and Blue Shield of Minnesota and a proposed class of entities that indirectly purchased, paid, or provided reimbursement for Daraprim from August 7, 2015 through the present. Daraprim is the gold-standard treatment for toxoplasmosis, a parasitic infection that can be fatal for those with HIV/AIDS, cancer, or compromised immune systems. BCBS alleges that Shkreli and his co-defendants endangered the health of vulnerable patients by raising the price of Daraprim from $17.50 to $750 per pill while illegally blocking lower-cost generic versions. The other defendants named in the lawsuit are Vyera Pharmaceuticals, Phoenixus AG (Vyera’s parent company), and Kevin Mulleady (Vyera’s former CEO).
“We will fight to hold defendants accountable for what we allege was an unlawful scheme to charge unconscionable prices and thwart competition for a life-saving drug,” said Kellie Lerner, Co-Chair of Robins Kaplan’s Antitrust and Trade Regulation Group, who is representing BCBS and the proposed class.
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