‘Pharma bro’ Martin Shkreli banned for life from drug industry

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The former executive who shot to notoriety for hiking the price of a lifesaving medication has been ordered to pay $US65 million and has been hit with a lifetime ban from the pharmaceutical industry.

Messages seeking comment were left with Shkreli’s lawyers.after obtaining exclusive rights to the decades-old drug in 2015. It treats a rare parasitic disease that strikes pregnant women, cancer patients and AIDS patients.Shkreli defended the decision as capitalism at work and said insurance and other programs ensured that people who need Daraprim would ultimately get it.

Shkreli resigned as Turing’s CEO in 2015, a day after he was arrested on securities fraud charges related to two failed hedge funds he ran before getting into the pharmaceutical industry. He was convicted of lying to investors and cheating them out of millions and is serving a seven-year sentence at a federal prison in Allenwood, Pennsylvania, and is due to be released in November.

The trial record included evidence showing Shkreli kept in regular contact with company executives, even after he went to prison. A spreadsheet kept by one executive showed more than 1,500 contacts with Shkreli between December 2019 and July 2020.

 

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Meanwhile pfizer sells snake oil to anti science hacks makes billions and noone bats an eyelid. The media are complicit in creating public discourse with more holes than Swiss cheese

I'm curious once he gets out of jail/parole.....what's to stop him leaving the USA and working in pharma in another country.....it's not like the FDA is the boss of the world.

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This happened almost a week ago Things are really au courant Fairfax!

Give Pfizer just extorted the world for billions over Covid vaccines this guy is a small time scapegoat.

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