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 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” was previously convicted of securities fraud and is serving seven years in prison. He also faces a new lawsuit filed last year by health insurers accusing him of illegally hiking the price of a life-saving drug.
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