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Shkreli ordered to return $64M, is barred from drug industry

Founder and former CEO of Turing Pharmaceuticals
House Committee on Oversight and Government Reform
Founder and former CEO of Turing Pharmaceuticals

By MICHAEL R. SISAK and JENNIFER PELTZ
Associated Press

NEW YORK (AP) — A federal judge has ordered Martin Shkreli to return $64.6 million in profits reaped from inflating the price of a lifesaving drug and barred him from the pharmaceutical industry for the rest of his life. The ruling Friday by a federal judge in New York came several weeks after a bench trial in December. The Federal Trade Commission and seven states brought the case in 2020 against the man dubbed “Pharma Bro.” The states are New York, California, Illinois, North Carolina, Ohio, Pennsylvania and Virginia. Shkreli’s lawyer did not immediately comment. Shkreli has defended raising the price of Daraprim as capitalism at work.

Associated Press

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