The FTC and seven states asked a federal judge to hold Martin Shkreli in contempt, alleging he repeatedly violated a 2022 civil order that banned him for life from the pharmaceutical industry. Since his release from prison in May 2022, they say, he has traded pharma stocks and publicly commented on the management of many drug companies. FTC Commissioner Mark Meador said escalating penalties, including fines and possibly incarceration, are warranted. The order stemmed from a finding that Shkreli orchestrated an anti-competitive scheme to protect his monopoly on the anti-parasitic drug Daraprim, raising its price from $17.50 to $750 per pill, and it also required him to disgorge more than $64 million. The FTC's Daniel Guarnera stressed that defendants must fulfill court orders and the agency will enforce violations.
Summary written by Upside AI from the original article. Read the source for full details.
Get briefings and signals on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the morning, midday and evening briefing of each market and important news as it happens.