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news18 - 9 days ago

Shkreli Ordered To Return USD 64M, Is Barred From Drug Industry

New York, Jan 14 (AP) A federal judge on Friday ordered Martin Shkreli to return USD 64.6 million in profits he and his company reaped from inflating the price of the life-saving drug Daraprim and barred him from participating in the pharmaceutical industry for the rest of his life. The ruling by US District Judge Denise Cote came several weeks after a seven-day bench trial in December. The Federal Trade Commission and seven states brought the case in 2020 against the man dubbed in the media as Pharma Bro. Shkreli was CEO of Turing Pharmaceuticals later Vyera when it jacked up the price of Daraprim. It treats a rare parasitic disease that strikes pregnant women, cancer patients and AIDS patients..


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