'Pharma Bro No More' Shkreli Gets Industry Ban, To Pay $65M
By Matthew Perlman (January 14, 2022, 3:13 PM EST) -- A New York federal judge on Friday banned Martin Shkreli from participating in the pharmaceutical industry for life and ordered him to pay $64.6 million for increasing the price of a lifesaving drug by 4,000% while blocking generic rivals.
U.S. District Judge Denise L. Cote issued an order and opinion Friday following a seven-day bench trial last month, finding Shkreli liable for antitrust claims lodged by the Federal Trade Commission and a contingent of state enforcers.
"Shkreli's anticompetitive conduct at the expense of the public health was flagrant and reckless," the judge wrote in the opinion. "He is unrepentant. Barring him...
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