Pharma Bro Martin Shkreli banned for life from drug industry in monopoly case, ordered to pay $64.6 million

A federal judge on Friday ordered notorious "Pharma Bro" Martin Shkreli banned for life from the pharmaceutical industry and also ruled that he must disgorge $64.6 million in profits he earned from hiking the price of the life-saving drug Daraprim by more than 5,000% overnight.

The ruling in U.S. District Court in Manhattan came in response to a lawsuit alleging illegal and monopolistic behavior connected with Daraprim by Shkreli, who is currently incarcerated for a securities fraud conviction.

Those same plaintiffs last month obtained a $40 million settlement for the same claims from Vyera Pharmaceuticals, the company that Shkreli had founded, as well as a seven-year ban of his former business partner Kevin Mulleady.

"Americans can rest easy because Martin Shkreli is a pharma bro no more," said New York Attorney General Letitia James.

Shkreli is serving a seven-year federal prison term for financial crimes unrelated to his controversial price increase of Daraprim, a drug used to treat parasitic infections in pregnant women, babies, HIV patients, and others. Shkreli controversially raised the drug's price from $13.50 per pill to a whopping $750 per pill in 2015.

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