Company founded by Shkreli off the hook in $43 million lawsuit: judge [Reuters (UK)]
IMPAX LABORATORIES (IPXL)
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Source: Reuters
Company founded by Shkreli off the hook in $43 million lawsuit: judge | Reuters 3 Min Read 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. Impax and Vyera did not immediately respond to requests for comment. Impax sold Daraprim, an anti-infection drug often used in AIDS patients, to Turing in August 2015. Turing, under Shkreli’s leadership, immediately raised its price to $750 per pill, from $13.50, sparking outrage among patients and U.S. lawmakers. Shkreli stepped down as Turing’s chief executive officer in December 2015 after he was cha
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