NEW YORK (Reuters) - Martin Shkreli, known for once hiking the price of a life-saving drug more than 4,000%, cannot return to the pharmaceutical industry after a federal appeals court on Tuesday upheld his lifetime ban.
A three-judge panel of the 2nd U.S. Circuit Court of Appeals in Manhattan said a lower court judge acted properly in imposing the ban and ordering Shkreli to repay $64.6 million because of his antitrust violations.
The case had been brought by the U.S. Federal Trade Commission (FTC), joined by New York, California, Illinois, North Carolina, Ohio, Pennsylvania and Virginia.
Shkreli, 40, became notorious and gained the sobriquet “Pharma Bro” when, as chief executive of Turing Pharmaceuticals in 2015, he raised the price of the newly-acquired antiparasitic drug Daraprim overnight to $750 per tablet from $17.50.
You must log in or # to comment.
I remember him saying that he increased the price to make money from insurance companies, and that it was written or disclaimed that if you couldn’t afford the new price of the pills, you could apply directly to the company and they were instructed to give out the pills to you for free.
It was some line he spoutrd off while being marched somewhere to court or something and definitely sounded like b*******, but does anybody know anything about that?
sounded like b*******,
You can write “bananas” on the internet!
Bullshit. “B******” is a banned word on the internet. How dare you threaten me with fruit!
deleted by creator
Who is the second one referring to?
deleted by creator
It’s not classism it’s capitalism. We’ve long accepted that people should die if they can’t pay, many people will even argue that it’s a good thing. Absolutely deranged system.
Isn’t this another case of “They were fine with him, until he started stealing from the rich instead of just the poor”
Seems like nobody went to Google to find out that the drug in question was never returned to previous price, or anywhere near.
Such an ungangster fall from grace after buying that Wu Tang album.
It’ll never see the light of day. So sad.
