A federal appeals court on Tuesday upheld a permanent ban on businessman Martin Shkreli from the pharmaceutical industry.
The U.S. Court of Appeals for the Second Circuit upheld a district court's ruling against Pharma Bro, barring him from participating in the pharmaceutical industry and charging him with a “nearly $65 million fine for his role in orchestrating illegal activities.” is liable for compensation.” Anti-competitive schemes. ”
“The Second Circuit's decision is a victory for consumers seeking affordable, life-saving medicines and ensures that corporate executives will be held personally liable for the anticompetitive conduct they helped organize. Henry Liu, director of the Federal Trade Commission's Bureau of Competition, said at a press conference. release.
About two years ago, U.S. District Judge Dennis Cote ordered Shkreli to pay nearly $65 million and avoid involvement with the pharmaceutical industry for dramatically inflating the prices of AIDS drugs.
“He has cynically taken advantage of the requirements of a federal regulatory system designed to protect the public's health by ensuring that the public has access to medicines that are not only effective but also safe,” the court said. he said in his judgment.
“He recklessly disregarded the health of the most vulnerable, especially those with compromised immune systems. His plan placed a burden on patients, their loved ones, and health care workers. ” she continued.
Cole also said that the former CEO of Turing Pharmaceuticals has expressed no remorse for his actions and that “the risk of recurrence here is real.”
“Shkreli's anti-competitive conduct at the expense of public health was flagrant and reckless. He is unrepentant. What is the point in preventing him from repeating that conduct unless it is in the interest of justice?” None,” Cote said.
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