Former pharmaceutical executive Martin Shkreli and his lead attorney Benjamin Brafman arrive at U.S. District Court in Brooklyn, New York City, for his securities fraud case on August 3, 2017 Jury deliberations on the fourth day of the trial.
Amr Alfiky | Amr Alfiky Reuters
this Supreme Court Monday rejected the notorious “Pharma Brothers’ Martin Shkreli His appeal against $64 million heard financial penalties A fraudster is blocking competition for a life-saving drug by raising the price of each pill by more than $700.
Shkreli asks Supreme Court to accept his appeal federal court decision This is his last chance to overturn his drug-related penalties Daraprim.
In rejecting the request, the Supreme Court did not explain its reasons for doing so. This decision was not challenged by any judge.
People pass outside the U.S. Supreme Court on October 7, 2024 in Washington, DC.
Kent Nishimura | Getty Images
Shkreli’s pharmaceutical company gained notoriety in 2015 when it raised the price of Daraprim by more than 4,000 percent. This drug is used to treat parasitic infections in pregnant women, infants, people with HIV, and others.
In 2020, while Shkreli was serving prison time for financial crimes unrelated to Daraprim, he and his company, Vyera Pharmaceuticals, were sued by the U.S. Department of Justice. Federal Trade Commission Suspected of illegally preventing competition from Daraprim. The Federal Trade Commission and a group of state attorneys general involved in the lawsuit said Shkreli’s actions cost consumers tens of millions of dollars annually.
In January 2022, a Manhattan federal court judge ruled in favor of the FTC, banning Shkreli for life from the pharmaceutical industry and ruling that he must hand over the $64.6 million he earned from raising the price of Daraprim profit.
this U.S. Court of Appeals for the Second CircuitIn January, a three-judge panel unanimously decided to uphold the penalty.
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