A federal judge ordered notorious “Pharma Bro” Martin Shkreli banned for life from the pharmaceutical industry and also ordered him to pay $64.6 million in profits he earned from hiking the price of the drug Daraprim.
The ruling came in response to a lawsuit against the incarcerated Shkreli by the Federal Trade Commission, and several states, including New York and California.
Shkreli earned widespread condemnation in 2015 for raising Daraprim’s price from a wide range of people, including former President Donald Trump and then-Democratic presidential contender Hillary Clinton.
A federal judge on Friday ordered notorious “Pharma Bro” Martin Shkreli banned for life from the pharmaceutical industry and also ordered him to pay $64.6 million in profits he earned from hiking the price of the life-saving drug Daraprim by more than 5,000% overnight.
The ruling in U.S. District Court in Manhattan came in response to a lawsuit alleging illegal and monopolistic behavior connected with Daraprim by Shkreli, who is currently incarcerated for a securities fraud conviction.
The plaintiffs in the case were the Federal Trade Commission, and seven states, including New York and California.
