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
Shkreli ordered to return $64M, is barred from drug industry
NEW YORK -- Martin Shkreli must return $64.6 million in profits he and his former company reaped from jacking up the price and monopolizing the market for a lifesaving drug, a federal judge ruled Friday while also barring the provocative, imprisoned ex-CEO from the pharmaceutical industry for the rest of his life.
U.S. District Judge Denise Cote's ruling came several weeks after a seven-day bench trial in December that featured recordings of conversations that Cote said showed Shkreli continuing to exert control over the company, Vyera Pharmaceuticals LLC, from behind bars and discussing ways to thwart generic versions of its lucrative drug, Daraprim.-- More...
