FTC Cannot Request Shkreli’s Return Until Congress Acts

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Law360 (June 3, 2021, 7:31 p.m. EDT) – A New York federal judge on Wednesday authorized the Federal Trade Commission to withdraw its financial restitution offer against disgraced pharmaceutical executive Martin Shkreli and his company, Vyera Pharmaceuticals LLC, account given the recent US Supreme Court ruling that the agency lacks the power to recover money from violators.

The defendants, whom the FTC and state antitrust authorities accused of monopolizing sales of the antiparasitic drug Daraprim since 2015, had opposed the commission’s request to withdraw. They argued that the appropriate response is partial summary judgment against the demand regarding the FTC’s offer for fair monetary relief.

But the U.S. District Judge …

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