‘Pharma Bro’ Shkreli banned for life from pharma industry

submitted by Tiwaking from (aljazeera.com)

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[–]WalkingIn2Madness 5 insightful - 2 fun5 insightful - 1 fun6 insightful - 2 fun -  (0 children)

Only because he embarrassed them.

[–]BravoVictor 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (0 children)

Shkreli, the former chief executive officer of Vyera Pharmaceuticals LLC, was also banned for life from the pharmaceutical industry in the antitrust ruling Friday by U.S. District Judge Denise Cote in Manhattan.

If he broke anti-trust law, then good for the court. That law is too rarely enforced.

Although the only reason it was actually enforced here was probably because Shkreli wasn't connected well enough, and couldn't buy off enough politicians or DAs the way other pharma CEOs do. He got so much bad press that prosecutors had to pursue him, even though price gouging of "life saving" drugs is something every pharma company does. Partly because they're greedy, and partly because the research to develop those drugs is insanely expensive.

[–]fatman 3 insightful - 3 fun3 insightful - 2 fun4 insightful - 3 fun -  (0 children)

he was going to walk as a free man, then he made a joke about hillary clinton's hair.

[–]Tiwaking[S] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (0 children)

I cant see how this ban is going to work. People who have a track record of making enormous amounts of money are always in demand. Always.

By Erik Larson and Sebastian TongBloomberg Published On 14 Jan 2022 14 Jan 2022 Martin Shkreli, the convicted “Pharma Bro” who was brought down by a 2015 drug-pricing scandal, was ordered to pay $64 million in damages for monopolizing the market for a life-saving drug.

Shkreli, the former chief executive officer of Vyera Pharmaceuticals LLC, was also banned for life from the pharmaceutical industry in the antitrust ruling Friday by U.S. District Judge Denise Cote in Manhattan.

New York Attorney General Letitia James, who filed the suit with six other states and the U.S. Federal Trade Commission, said in a statement that Shkreli was motivated by “envy” and “greed” when he decided to “illegally jack up the price of a life-saving drug as Americans’ lives hung in the balance.”

[–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

America is capitalist you say? These fools can't handle the truth of their own industry.