Rights to Bankrupt ‘Pharma Bro’ Drug Sell for 1% of Past Value

The right to sell Daraprim, a prescription medication that “Pharma Bro” Martin Shkreli made infamous by jacking up its price in 2015, was approved for sale to a former company insider for less than $1 million.

Tilde Sciences LLC will purchase the rights to Daraprim, which treats the rare disease toxoplasmosis, for $650,000. Judge J. Kate Stickles approved the deal Wednesday during a hearing in the US Bankruptcy Court for the District of Delaware.

The sole member of Tilde, Akeel Mithani, was a senior vice president of business development at Vyera Pharmaceuticals LLC, which was founded by Shkreli. Mithani was ...