Martin Shkreli Barred From Drug Industry and Must Repay $64.6 Million
7 days ago - By New York Times
A federal judge found that Mr. Shkreli violated state and federal antitrust laws by trying to maintain a monopoly over a lifesaving drug and must pay back the excess profits.
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STAT+: Martin Shkreli is ordered to pay $64 million and is banned from the pharma industry for life
7 days ago - By STAT
“Pharma bro” Martin Shkreli was ordered to pay $64.6 million in profits and was banned for life from the pharmaceutical industry for an infamous episode several years ago in which his company purchased an old, life-saving medicine and then boosted the price by 4,000% overnight.
The decision follows a trial last month in which Shkreli, a former hedge fund manager who quickly became reviled for his smug responses to an outraged public, was accused by a group of federal and state authorities for stifling competition. Also last month, his former company settled the same charges by agreeing to...
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