Federal judge bans Martin Shkreli from the pharmaceutical industry for life, orders him to pay $64.6 million fine



A US judge on Friday barred Martin Shkreli from working in the pharmaceutical industry for life and ordered him to pay $64.6 million in a securities fraud case. The judge ruled in favor of the FTC and seven states after a trial in which they accused Shkreli of using illegal tactics to keep rivals out of the market. The price of the drug Daraprim was raised to $750 per tablet from $17.50.

A federal judge ruled on Friday that Martin Shkreli must return $64.6 million in profits he and his former company earned from jacking up the price and monopolizing the market for a life-saving drug. The ruling came several weeks after a seven-day bench trial in December that featured recordings of conversations that the judge said showed Shkreli continuing to exert control over the company. "Shkreli was not a side player or beneficiary of Vyera's scheme," said the opinion.

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