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Pharma Bro Shkreli asks the court to discover no wrongdoing in Daraprim complaint

Pharma Bro Shkreli asks the court to discover no wrongdoing in Daraprim complaint

WASHINGTON, Nov 29 (Reuters) - Martin Shkreli, in jail on an unrelated charge, his former firm Vyera Pharmaceuticals and others asked a judge Monday to find that they violated no regulations regarding the drug Daraprim, which saw its price rise by more than 4,000 percent in one day.

According to the Federal Trade Commission, Shkreli once held a high position of the drug by restricting distribution to ensure generic drug makers could not obtain the samples needed to produce a cheaper version of the drug. The firm, previously Turing Pharmaceuticals, also prevented potential competitors from purchasing an ingredient, according to the FTC.

Toxoplasmosis, a common parasitic infection that only causes severe diseases infected people with a weak immune system, was the standard price of Daraprim, which is used to treat toxoplasmosis.

The defendants said in a filing on Monday that the FTC failed to guarantee that the business harmped competition since another drug -- Bactrim -- was also a effective toxoplasmosis, and that other firms were able to buy the crucial ingredient, pyrimethamine, in contrast to an FTC allegation.

The government also failed to state that the defendants made any ill-gotten gains in the filing, they stated in the statement.

The trial in the case is set to begin on Dec. 14 in the District Court of Southern New York.

Shkreli, who is about to be released from prison in October 2022, became famous when he sharply raised the price of the anti-parasitic drug Daraprim while chief executive of Turing Pharmaceuticals.

Shkreli had been convicted in August 2017 of cheating investors in two hedge firms he founded and attempting to raise the stock price of biotechnology firm Retrophin Inc, which he once ran.

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