Shkreli ordered to return $64M, is barred from drug industry

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A federal judge has ordered Martin Shkreli to refund $64.6 million in profits he and his company received by increasing the price of the life-saving drug Daraprim and preventing him from participating in the pharmaceutical industry for the rest of his life. has stopped.

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NEW YORK – A federal judge on Friday ordered Martin Shkreli to refund $64.6 million in profits he and his company received by raising the price of the life-saving drug Daraprim and allowing them to participate in the pharmaceutical industry for life. stopped from

US District Judge Dennis Coates’ decision comes several weeks after a seven-day bench trial in December. The Federal Trade Commission and seven states brought a case in 2020 against the man who was dubbed a “pharma bro” in the media.

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Shkreli was CEO of Turing Pharmaceuticals — later Vera — when it raised the price of Daraprim. It treats a rare parasitic disease that affects pregnant women, cancer patients and AIDS patients.

He defended the decision as capitalism at work, saying that insurance and other programs ensure that those who need the Daraprim will eventually get it.

But the move sparked outrage from medical centers on the 2016 presidential campaign trail, where Hillary Clinton called it price-gouging and future President Donald Trump called Shkreli “a spoiled brat.”

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