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‘Pharma bro’ Shkreli loses millions and gets pharma ban

Martin Shkreli has to give up the millions in profit he made by making a crucial drug suddenly 55 times more expensive. An American judge ordered that he must pay more than 50 million euros to the state.

In 2015, Shkreli bought the drug Daraprim, which is used for AIDS patients and pregnant women with a certain parasite. In one fell swoop he raised the price from 13.50 to 750 dollars. He also made it impossible for competitors to market an alternative version of the drug.

The fuss about the usurious amounts earned him the qualification ‘most hated man in America’. Because of his student-like appearance, he was also called ‘pharma brother‘ named.

In jail

Seven states and the American cartel watchdog FTC filed a lawsuit against Shkreli and his company in 2020, because he allegedly violated monopoly rules by antagonizing competitors. The judge agrees with that reasoning. In addition to being picked, Shkreli is also banned from being active in the pharmaceutical industry for life.

Shkreli was told the sentence in prison. He is currently serving a seven-year sentence for defrauding investors of millions in another case. He will be released in November.

Shkreli’s company had previously agreed to a $35 million settlement.

‘Pharma bro’ Shkreli loses millions and gets pharma ban
Source link ‘Pharma bro’ Shkreli loses millions and gets pharma ban

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