NEW YORK (Reuters) - Martin Shkreli, known for once hiking the price of a life-saving drug more than 4,000%, cannot return to the pharmaceutical industry after a federal appeals court on Tuesday upheld his lifetime ban.
A three-judge panel of the 2nd U.S. Circuit Court of Appeals in Manhattan said a lower court judge acted properly in imposing the ban and ordering Shkreli to repay $64.6 million because of his antitrust violations.
The case had been brought by the U.S. Federal Trade Commission (FTC), joined by New York, California, Illinois, North Carolina, Ohio, Pennsylvania and Virginia.
Shkreli, 40, became notorious and gained the sobriquet “Pharma Bro” when, as chief executive of Turing Pharmaceuticals in 2015, he raised the price of the newly-acquired antiparasitic drug Daraprim overnight to $750 per tablet from $17.50.
Seems like nobody went to Google to find out that the drug in question was never returned to previous price, or anywhere near.
I remeber when this piece of shit did a reddit AMA a few years ago and got thousands of upvotes. People still support him and he thinks he did nothing wrong.
What did he do, other than increase the price of a life savings drug? His Security Fraud convictions really aren’t all that different than what most companies already do, and there wasn’t a reported financial loss by any of his investors.
Well he claims he actually gave the medication for free to anyone who was uninsured. His argument was that the $750 price was a middle finger to the insurance industry and to draw attention to gouging for pharmaceuticals in general. He believes Big Pharma made an example of him for this unwanted exposure.
Didn’t he make some kind of fuck the poor people hip hop video or something?
I remember him saying that he increased the price to make money from insurance companies, and that it was written or disclaimed that if you couldn’t afford the new price of the pills, you could apply directly to the company and they were instructed to give out the pills to you for free.
It was some line he spoutrd off while being marched somewhere to court or something and definitely sounded like b*******, but does anybody know anything about that?
If it was written or disclaimed, it was somewhere in the middle of a 20 page block of legalese where no patient would ever find it.
Definitely, I’m just curious if there was anything to it at all or if he was just screaming it as a PR stunt as he was led away
sounded like b*******,
You can write “bananas” on the internet!
Bullshit. “B******” is a banned word on the internet. How dare you threaten me with fruit!
Good.
Hey does anyone have the numbers on the 64mill fine vs how much he profited off his shitty moves?
Didn’t think I’d hear this assholes name again.
Last time I heard anything from him he was telling Do Kwon, the owner of the cryptocurrrency scam Luna, that prison wasn’t all that bad on a video call when Kwon actively had an arrest warrant out for him. He shouldn’t be allowed to own anything of real value ever again with the shit he’s pulled
Isn’t this another case of “They were fine with him, until he started stealing from the rich instead of just the poor”
