Martin Shkreli has been ordered to return $ 64 million, excluded from the pharmaceutical industry: NPR


Martin Shkreli has been ordered to return $ 64 million, excluded from the pharmaceutical industry: NPR

A federal judge on Friday ordered Martin Shkreli, seen here in 2016, to return $ 64.6 million in profits, which he and his former firm reaped by raising the price of the life-saving drug Daraprim, and prevented him from participating in the pharmaceutical industry for the rest of his life.

Susan Walsh / AP

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Susan Walsh / AP


A federal judge on Friday ordered Martin Shkreli, seen here in 2016, to return $ 64.6 million in profits, which he and his former firm reaped by raising the price of the life-saving drug Daraprim, and prevented him from participating in the pharmaceutical industry for the rest of his life.

Susan Walsh / AP

NEW YORK – Martin Shkreli is to return $ 64.6 million in profits he and his former company reaped by raising the price of the life-saving drug Daraprim, a federal judge ruled Friday, while also excluding the provocative, imprisoned former CEO from to participate in the pharmaceutical industry for the rest of his life.

The U.S. District Judge Denise Cote’s ruling came several weeks after a seven-day trial in December. The Federal Trade Commission and seven states brought the case in 2020 against the man who was called “Pharma Bro” in the media.

Shkreli’s lawyer did not immediately respond to a request for comment.

Shkreli was CEO of Turing Pharmaceuticals – later Vyera – when it raised the price of Daraprim from $ 13.50 to $ 750 per pill, after acquiring exclusive rights to the decades-old drug in 2015. It treats a rare parasitic disease that affects pregnant women women, cancer patients and AIDS patients.

He defended the decision as capitalism at work, saying that insurance and other programs ensured that people in need of Daraprim would eventually get it.

But the move sparked outrage from medical centers to Congress for the 2016 presidential campaign, in which candidate Hillary Clinton called the price-cutting and future president Donald Trump called Shkreli “a spoiled brat.”

Shkreli eventually offered hospitals half a discount – still equivalent to an increase of 2,500%. However, patients usually take most of the week-long treatment after returning home, so they and their insurance companies still faced the $ 750 price per treatment. pill.

He resigned as Turing’s CEO in 2015, a day after he was arrested on charges of securities fraud involving hedge funds he ran before entering the pharmaceutical industry. He was sentenced and sentenced to seven years in prison.

Vyera Pharmaceuticals was sued in a federal court in New York by the FTC and seven states: New York, California, Illinois, North Carolina, Ohio, Pennsylvania and Virginia.

They claimed that Vyera was raising the price of Daraprim and illegally creating “a network of anti-competitive restrictions” to prevent other companies from creating cheaper generic versions by, among other things, blocking their access to a key ingredient for the drugs and data the companies wanted. Garden. to assess the market potential of the medicinal product.

Vyera and its parent company, Phoenixus, reconciled last month and agreed to provide up to $ 40 million in emergency aid over 10 years to consumers and to make Daraprim available to any potential generic competitor at the expense of producing the drug.

Former Vyera CEO Kevin Mulleady agreed to pay $ 250,000 if he violates the settlement, which excludes him from working for a pharmaceutical company for seven years.

Shkreli proceeded to the trial.

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