Supreme Court Reviews Antitrust Judgment Against Martin Shkreli
The Supreme Court recently denied an appeal from Martin Shkreli concerning an antitrust judgment linked to his controversial practices while at Vyera Pharmaceuticals. Shkreli, infamous for inflating the price of Daraprim, was convicted previously for defrauding investors and subsequently sentenced to seven years in prison. The appeal focused on the legality of his fines and bans from the pharmaceutical sector.
Background on Martin Shkreli
Shkreli became known as the “Pharma Bro” after his company, Turing Pharmaceuticals, raised the price of Daraprim from $13.50 to $750 per pill. This move sparked widespread public outrage and prompted discussions about drug price regulation and access.
Legal Consequences
- Convicted of fraud in 2017.
- Sentenced to seven years but released after serving five.
- Banned from the pharmaceutical industry after his conviction.
Industry Implications
This case signifies ongoing concerns about price inflation in the pharmaceutical industry and the broader ramifications for investors. The Supreme Court's decision not only reflects on Shkreli's past actions but also sets a precedent for future antitrust cases involving pharmaceutical companies.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.