[ad_1]
A federal judge on Friday ordered Martin Shkrelin to return the $ 64.6 million in profits he and his company had secured from the massive artificial price increase of the drug Daraprim and barred him permanently from participating in the pharmaceutical industry.
Judge Denise Cote’s decision came weeks after a seven-day trial in December. The Federal Trade Commission and seven states filed lawsuits against Shkreli in 2020.
Shkreli was chief executive of Turing Pharmaceuticals – later renamed Vyera – when she raised the price of the drug Daraprim, which treats a rare parasitic infection that affects pregnant women, cancer patients and AIDS patients.
He and the company raised the price by 5,000 percent, or $ 750 per pill. Shkreli defended his actions saying it was in line with the rules of capitalism and said insurance and other programs make it possible for people in need of Daraprim to be able to secure it.
But his actions sparked outrage ranging from medical centers to 2016 presidential candidates Hillary Clinton and Donald Trump.
top channel
[ad_2]
Source link