Former pharmaceutical executive Martin Shkreli smiles while speaking to the media in front of U.S. District Court for the Eastern District of New York with members of his legal team after the jury issued a verdict, August 4, 2017 in the Brooklyn boroMartin Shkreli must return $64.
He defended the decision as capitalism at work and said insurance and other programs ensured that people who need Daraprim would ultimately get it. Shkreli eventually offered hospitals half off — still amounting to a 2,500% increase. But patients normally take most of the weekslong treatment after returning home, so they and their insurers still faced the $750-a-pill price.
They alleged that Vyera hiked the price of Daraprim and illegally created "a web of anticompetitive restrictions" to prevent other companies from creating cheaper generic versions by, among other things, blocking their access to a key ingredient for the medication and to data the companies would want to evaluate the drug’s market potential.
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U.S. judge bars Martin Shkreli from drug industry, orders $64.6 million paymentWASHINGTON (Reuters) -A U.S. judge on Friday barred Martin Shkreli from the pharmaceutical industry for life and ordered him to pay $64.6 million after he famously raised the price of Daraprim and fought to block generic competitors. U.S. District Judge Denise Cote in Manhattan ruled after a trial where the U.S. Federal Trade Commission and seven states had accused Shkreli, the founder of Vyera Pharmaceuticals, of using illegal tactics to keep Daraprim rivals out of the market. Shkreli drew notoriety in 2015 after hiking Daraprim's price overnight to $750 per tablet from $17.50. So we can bar a private citizen from a private industry for the damage he caused to it and the people his decisions negatively affected but we cant bar a private citizen from public office for attempting to overthrow the government
Source: YahooNews - 🏆 380. / 59 Read more »
Martin Shkreli Banned for Life From Drug Industry, Ordered to Pay Nearly $65 MillionMartin Shkreli, the so-called pharma bro embroiled in a drug-pricing scandal, was banned for life from the pharmaceutical industry on Friday after a federal court found that he engaged in illegal and monopolistic behavior Beautiful. illegal and monopolistic behavior, isn't that the norm in the pharma industry? Now do the Purdue family.
Source: WSJ - 🏆 98. / 63 Read more »
'Pharma bro no more': Martin Shkreli banned from pharmaceutical business for lifeDisgraced drug company executive Martin Shkreli, derided as the “Pharma Bro,” has been banned from ever doing business again in the pharmaceutical business. He's also got a grin on his face. He's the real Joker. And evil. Just like Congress and The Senate should be banned from buying stocks. After millions and millions and millions
Source: NBCNews - 🏆 10. / 86 Read more »