Former drug firm government Martin Shkreli and his lead legal professional Benjamin Brafman arrive at U.S. District Court docket for the fourth day of jury deliberations in his securities fraud trial within the Brooklyn borough of New York Metropolis, U.S., August 3, 2017.
Amr Alfiky | Reuters
The Supreme Court docket on Monday rejected a bid by infamous ‘pharma bro’ Martin Shkreli to listen to his attraction of a $64 million monetary penalty on the fraudster for blocking competitors to a life-saving drug whose value he had raised by greater than $700 per capsule.
Shkreli’s request that the Supreme Court docket take his attraction of federal courtroom determination was his final probability to overturn the penalty associated to the drug Daraprim.
The Supreme Court docket in rejecting that request didn’t clarify its motive for doing so. There have been no famous dissents by any justice to the choice.
CNBC has requested remark from Shkreli’s lawyer and the Federal Commerce Fee, whose lawsuit in opposition to Shkreli led to the penalty.
Individuals cross outdoors the U.S. Supreme Court docket on October 7, 2024 in Washington, DC.
Kent Nishimura | Getty Photos
Shkreli gained nationwide infamy in 2015 when his drug firm hiked the worth of Daraprim by greater than 4,000%. The drug is used to deal with parasitic infections in pregnant girls, infants, folks with HIV and others.
In 2020, whereas Shkreli was serving a jail sentence for monetary crimes unrelated to Daraprim, he and his firm Vyera Prescription drugs had been sued by the FTC for allegedly illegally blocking competitors to Daraprim. The FTC and a bunch of state attorneys normal who joined within the lawsuit stated Shkreli’s actions value shoppers tens of tens of millions of {dollars} yearly.
In January 2022, a Manhattan federal courtroom decide dominated within the FTC’s favor, banned Shkreli for all times from the pharmaceutical business and dominated that he needed to disgorge $64.6 million in income he earned from elevating Daraprim’s value.
The 2nd U.S. Circuit Court docket of Appeals, in a unanimous determination by a three-judge panel, upheld that penalty this previous January.
Shkreli in June requested the Supreme Court docket to listen to his attraction of that ruling. There isn’t any computerized proper to attraction to the Supreme Court docket.
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