FTC Sues Drugmaker For Price Gouging

The Federal Trade Commission filed a civil lawsuit claiming that Ovation Pharmaceuticals illegally maintained a monopoly by purchasing the only two meds approved to treat premature babies born with a potentially life-threatening congenital heart defect - and then raised prices by 1,300 percent. And so the FTC wants the drugmaker to divest either of the two drugs - NeoProfen and Indocin - and also forfeit all “unlawfully obtained profits,” according to the lawsuit filed in federal court in Minnesota.

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