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Former pharmaceutical executive Martin Shkreli was handed a lifetime ban from the industry and ordered to pay a $64.6 million fine, according to a federal judge's ruling on Friday.
Shkreli was sued in January 2020 for allegedly violating antitrust rules over fixing the price of the anti-parasitic drug Daraprim and delaying "the entry of generic competition for at least eighteen months," according to the ruling.
US District Judge Denise Cote said in a 135-page ruling that Shkreli's "egregious, deliberate, repetitive, long-running, and ultimately dangerous illegal conduct" warranted the stiff penalty.
The so-called "Pharma Bro" — who was also a former hedge fund manager before launching his career in pharmaceuticals — was previously convicted of securities fraud and is serving seven years in prison.
Federal judge bans Martin Shkreli from the pharmaceutical industry for life, orders him to pay $64.6 million fine
The so-called "Pharma Bro" was sued in early 2020 for an alleged antitrust violation over the price of the drug Daraprim.
www.businessinsider.com
