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Drug Trafficking

Turing drug distribution probed by N.Y. after price hike

NEW YORK - Turing Pharmaceuticals was warned by New York's attorney general that the distribution network for a rarely used cancer drug, whose 55-fold overnight price hike drew widespread criticism, may violate antitrust laws. State officials made their concerns known to Turing and Chief Executive Officer Martin Shkreli in an Oct. 12 letter obtained by Bloomberg. Turing's decision to raise the price of the decades-old medicine, which it acquired in August, brought a storm of criticism, including from Democratic presidential candidate Hillary Clinton, whose subsequent vow to reform the drug industry sent the biotech sector plummeting. After acquiring the anti-parasitic drug...