Martin Shkreli, the pharmaceutical entrepreneur vilified for astronomically hiking the price of a life-saving drug, has been barred for life from the pharmaceutical industry and fined $64.6m by a US court.
The Friday ruling came after the Federal Trade Commission (FTC) and seven states brought a case against Shkreli, nicknamed the “Pharma Bro” for his sometimes outrageous behavior.
Shkreli was chief executive of Turing Pharmaceuticals, a company that in 2015 hiked the price of Daraprim, a drug used to treat Aids, malaria and cancer, by more than 5,000%.
The ensuing scandal managed to unite Donald Trump and his then presidential rival, Hillary Clinton, in condemnation. Trump called Shkreli a “spoiled brat” and Clinton slammed his price gouging.
“Banning an individual from an entire industry and limiting his future capacity to make a living in that field is a serious remedy and must be done with care and only if equity demands,” US district judge Denise Cote wrote in a 135-page ruling on Friday.