Court upholds “pharma bro” Martin Shkreli’s lifetime ban

24 January 2024

The US Court of Appeals for the Second Circuit yesterday affirmed a district court ruling which ordered “pharma bro” Martin Shkreli to face a lifetime ban from participating in the pharmaceutical industry and found Mr Shkreli liable for $64.6 million in disgorgement for his role in orchestrating an illegal anticompetitive scheme.

In 2017, Mr Shkreli was convicted on three of eight counts in a month-long securities fraud trial at the US District Court in Brooklyn, New York. In March 2018 he was sentenced to seven years of imprisonment, and released early in May 2022.

Bureau of Competition Director Henry Liu issued the following statement on the Second Circuit’s order:

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