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The king of drugs must pay 64 million dollars for manipulating the price of a drug

Martin Shkreli, during his arrest for fraud.Andrew Burton (Getty)

The Entrepreneur Pharmacist Martin Shkreli, for a time dubbed “the most hated man in America,” was found guilty of monopoly on Friday and sentenced to pay $64 million, the equivalent of the profits he made from buying a cheap drug patent. and then greatly increase the price. Daraprim, a drug to treat malaria often prescribed to HIV patients, went from $13.50 overnight to $750 in 2015, an increase of 4,000%.

Known on Wall Street as “Pharma Bro”, Shkreli, 38, prevented access to Daraprim from companies that manufactured generic drugs, for This prevented them from performing the tests required by the Food and Drug Administration (FDA) and also blocked access to the two largest manufacturers of the active pharmaceutical ingredient in Daraprim. Judge Denise Cote has suspended Shkreli for life from the pharmaceutical sector.

“Envy, greed, lust and hate motivated Shkreli and his partner to illegally increase the price of a fundamental medicine to save the lives of many Americans who were on the verge of death”, said this Friday Letitia James, attorney general of New York.

Shkreli is currently serving a seven-year prison sentence for defrauding investors and using the funds of a of the biotech companies he founded. The businessman became famous among the public after Democrat Hillary Clinton gave him as an example in the middle of the electoral campaign about the excesses in the price of medicines.

Shkreli, the son of Albanian immigrants, founded his first investment fund at the age of 21. In 2012, he created Retrophin Pharmaceuticals, a company dedicated to the treatment of rare diseases. Within two years, his shares had appreciated from $3 to $20. He sold his stake and opened Turing Pharmaceuticals. In 2015, the company bought Daraprim, a drug used against toxoplasmosis.

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