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HomeIndiaShkreli Ordered To Return USD 64M, Is Barred From Drug Trade

Shkreli Ordered To Return USD 64M, Is Barred From Drug Trade

New York, Jan 14 (AP) A federal choose on Friday ordered Martin Shkreli to return USD 64.6 million in income he and his firm reaped from inflating the value of the life-saving drug Daraprim and barred him from taking part within the pharmaceutical business for the remainder of his life. The ruling by US District Choose Denise Cote got here a number of weeks after a seven-day bench trial in December. The Federal Commerce Fee and 7 states introduced the case in 2020 in opposition to the person dubbed within the media as Pharma Bro.” Shkreli was CEO of Turing Pharmaceuticals later Vyera when it jacked up the price of Daraprim. It treats a rare parasitic disease that strikes pregnant women, cancer patients and AIDS patients.

He defended the decision as capitalism at work and said insurance and other programs ensure that people who need Daraprim would ultimately get it. But the move sparked outrage from medical centers to the 2016 presidential campaign trail, where Hillary Clinton termed it price-gouging and future President Donald Trump called Shkreli a spoiled brat. (AP) .

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