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The story is 157673239.
The face-the-music dept. posted on Friday January 14, 2022.
A federal judge on Friday banned notorious "Pharma bro" Martin Shkreli from working in the pharmaceutical industry for life and ordered him to pay more than $60 million in profits he made from hiking the price of a life-saving drug. The ruling in the Manhattan District Court came in response to a lawsuit that alleged illegal and monopolistic behavior connected with the drug Daraprim.
The Federal Trade Commission was one of the parties in the case. The same people who obtained a $40 million settlement for the same claims from Vyera Pharmaceuticals were the ones who had sued Shkreli. New York Attorney General Letitia James said that Americans can rest easy because Martin Shkreli is no longer a pharma bro. The seven-year federal prison term for financial crimes unrelated to his controversial price increase of a drug used to treat infections in pregnant women, babies, HIV patients, and others is unrelated to the price increase of the drug. The price of the drug was raised from $13.50 to $750 in 2015.
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