‘Pharma Bro’ Shkreli has been banned from his life in the pharmaceutical industry | Drug Issues


Martin Shkreli has also been ordered to pay a $ 64m interest in controlling the life-saving drug market.

Author Bloomberg

Martin Shkreli, convicted of “Pharma Bro” who was indicted in 2015 for drug overdose, was ordered to pay $ 64 million in damages for the life-saving drug market.

Shkreli, a former chief executive of Vyera Pharmaceuticals LLC, was also banned for life on medical treatment in a Friday antitrust ruling by U.S. District Judge Denise Cote in Manhattan.

New York Attorney General Letitia James, who has filed the lawsuit with six other countries and the US Federal Trade Commission, said Shkreli was motivated by “jealousy” and “greed” when he decided to “damage the company’s value illegally.” life-saving as American lives were difficult. ”

Shkreli is already serving a seven-year prison sentence for fraudulently administering two hedge funds, although the same drug – Daraprim – is in the middle of both cases.

Vyera, then known as Turing Pharmaceuticals, was launched by Shkreli in 2015. That’s when he discovered Daraprim, an anti-infective drug that is used to treat sometimes fatal parasitic infections, from the only retailers available. Shkreli then raised the price from $ 17.50 to $ 750 per pill.

Cote found that Shkreli had entered into illegal contracts with drug dealers to delay the importation of cheap drugs.

“Shkreli does not deny that it was intended to prevent generic drug companies from developing products that could undermine the value of Daraprim,” the judge wrote. “The plaintiffs have indicated that the restrictions imposed on Vyera were able to do so.”

Last month, Vyera and another former attorney, Kevin Mulleady, agreed to pay $ 40 million to cover their involvement in a lawsuit filed by New York and other states.

(Updates and case details)





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