Wednesday, January 19, 2022

U.S. court rules Martin Shkreli banned from pharmaceutical business and fined $ 64.6 million

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Martin Shkreli, a former head of a pharmaceutical company, and his attorney, Benjamin Brafman, were convicted of securities fraud and left the U.S. District Court in Brooklyn, New York, on Aug. 4, 2017. / Carlo Allegri

WASHINGTON () – A U.S. court on Friday expelled Martin Shkreli from the pharmaceutical industry for life and forced him to pay $ 64.6 million for raising the price of Daraprim and fighting to keep general competitors out of the market.

The U.S. Federal Trade Commission and seven-state Viera Pharmaceuticals founder Shkreli have accused Daraprim of using illegal tactics to bring competitors to market after raising the price from $ 17.50 to $ 750. 2015.

The drug is used to treat toxoplasmosis, a parasitic infection that threatens people with weakened immune systems.

Shkreli, who is serving a seven-year prison sentence for securities fraud, did not attend the trial.

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