‘Pharma Bro’ Shkreli Banned From Drug Industry, Must Pay $64.6M

Martin Shkreli, who earned the nickname “Pharma Bro” after raising the price of a life-saving drug from $3.50 to $775 overnight, has been barred from the drug industry for life by a federal

Along with the ban, U.S. District Judge Denise Cote ordered Shkreli to pay $64.6 million of the profits that his former company Turing  Pharmaceuticals LLC gained after raising the prices. 

The bench trial, which was brought forward against Shkreli in 2020 by the Federal Trade Commission and seven separate states including California and Illinois, took place over the course of seven days in December.

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