Jailed 'Pharma Bro' Martin Shkreli ordered to repay $64m

The image is from the news.

The image caption is.

The drug firm executive who ordered dramatic price hikes of a life-saving medicine has been barred from the industry for the rest of his life.

He was ordered to repay $65m in profits he made from the scheme by a judge on Friday.

She ruled that Mr Shkreli's actions were against the law.

Mr Shkreli is currently in prison.

He raised the price of the long-established medicine used to treat toxoplasmosis from $13.50 to $750 overnight in 2015.

He designed supply agreements to block competitors from offering a generic version of the medicine, which is used to treat the disease in pregnant women and patients with Aids.

The moves earned him the nickname "Pharma bro".

He was sued in 2020 by seven states and the Federal Trade Commission for violating state and federal anti-competitive conduct laws.

The US District Judge called Mr Shkreli the "prime mover" in the scheme.

She wrote that it was his brainchild and he drove it each step of the way.

Vyera Pharmaceuticals, founded by Mr Shkreli, agreed to pay $40m.

New York Attorney General Letitia James was one of the officials who brought the suit.

She said that Mr Shkreli and his partner had raised the price of a life-saving drug as Americans' lives were at stake.

Americans can rest easy because Martin Shkreli is no longer a pharma bro.

There is healthcare in the US.
The pharmaceutical industry is large.