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US judge excludes Martin Shkreli from the pharmaceutical industry and orders payment of 64 million dollars



Reuters – A US judge on Friday expelled Martin Shkreli from the pharmaceutical industry for life and ordered him to pay $ 64.6 million after he famously raised the price of Daraprim and fought to block generic competitors.

U. District Judge Denise Cote in Manhattan ruled after a trial in which the US Federal Trade Commission and seven states had accused Mr. Shkreli, the founder of Vyera Pharmaceuticals, for using illegal tactics to keep Daraprim's rivals out of the market.

Mr. Shkreli became famous in 2015 after raising Daraprim's overnight price to $ 750 per tablet from $ 17.50. The drug treats toxoplasmosis, a parasitic infection that threatens people with weakened immune systems.

In a 1

30-page decision, Judge Cote blamed Mr Shkreli for creating two companies, Vyera and Retrophin Inc., designed to monopolize drugs so that he could earn money "on the backs" of patients, doctors and distributors. Shkreli could become a repeat offender.

"Shkreli's anti-competitive behavior at the expense of public health was flagrant and ruthless," the judge wrote. "He is incurable. To prevent him from the possibility of repeating that behavior is nothing if not in the interest of justice."

Neither Mr. Shkreli's lawyers or the FTC immediately responded to requests for comment. The trial against the jury was held last month.

Mr. Shkreli is serving a seven-year prison sentence for securities fraud. He did not participate in the trial.

Vyera was founded in 2014 as Turing Pharmaceuticals and acquired Daraprim from Impax Laboratories Inc 2015.

Regulators accused Vyera of protecting its dominance of Daraprim by ensuring that generic drug manufacturers could not obtain samples . for cheaper versions and to prevent potential competitors from buying a key ingredient.

The seven states that joined the FTC case included California, Illinois, New York, North Carolina, Ohio, Pennsylvania and Virginia.


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