‘PHARMA BRO’ BANNED FOR LIFE
Martin Shkreli, the “Pharma Bro” who significantly raised the price of the life-saving drug Daraprim, was told by a judge on Friday that he could no longer work within the pharmaceutical industry and was ordered to pay close to $65 million “in net profits from his wrongdoing.”
U.S. District Judge Denise Cote called his scheme to raise the price of Daraprim “particularly heartless and coercive” in her decision on Friday.
“He cynically took advantage of the requirements of a federal regulatory scheme designed to protect the health of a nation by ensuring that its population has access to drugs that are not only effective but also safe,” Cole said in her decision.
In her strong rebuke, Cole also said that Shkreli had not expressed any remorse for his actions. She noted that “the risk of recurrence here is real.”
“Shkreli’s anticompetitive conduct at the expense of the public health was flagrant and reckless. He is unrepentant. Barring him from the opportunity to repeat that conduct is nothing if not in the interest of justice,” Cole said.