Company founded by Shkreli agrees to $40M settlement

Vyera Pharmaceuticals, founded by infamous executive Martin Shkreli, reached a $40 million settlement with the Federal Trade Commission and seven states over alleged price gouging.

Shkreli founded the company as Turing Pharmaceuticals in 2015. Later that year, the company purchased the rights to Daraprim for $55 million and boosted the price to $750 per dose.

The FTC and the states are slated to proceed with a trial next week against Shkreli, who's currently in prison for a separate case involving securities and wire fraud charges.

Read more from the San Francisco Chronicle.