Biotech Founded By Pharma Bro Shkreli Escapes $43 Million Lawsuit

Published: Oct 02, 2017

NEW YORK (Reuters) - Vyera Pharmaceuticals, formerly known as Turing Pharmaceuticals, does not have to pay Impax Laboratories Inc $43 million in a dispute stemming from Turing founder Martin Shkreli’s decision to boost by 5,000 percent the price of a drug Turing bought from Impax, a U.S. judge ruled on Friday.

U.S. District Judge Edgardo Ramos in Manhattan said Vyera was liable for the money under its contract with Impax, but did not have to pay it because Impax had violated the contract as well.

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