🔵 Martin Shkreli ban from pharmaceutical industry upheld by US court

Martin Shkreli, the "pharma bro" entrepreneur who astronomically increased the price of a life-saving drug by more than 4,000% and became a symbol of corporate Wall Street greed, cannot return to the pharmaceutical industry, a court has ruled. A federal appeals court in New York upheld his lifetime ban from the business. A three-judge panel of the 2nd US circuit court of appeals in Manhattan said a lower court judge acted properly in imposing the ban and ordering Shkreli to repay $64.6m because of his antitrust violations. The case had been brought by the Federal Trade Commission (FTC), joined by New York, California, Illinois, North Carolina, Ohio, Pennsylvania and Virginia.

SOTT     Jan 27, 2024