Pharma Bro Martin Shkreli in Hot Water with FTC Over Lifetime Industry Ban

Martin Shkreli is once again in trouble with the FTC, this time over a potential violation of his lifetime ban from the pharma industry. Shkreli, who famously jacked the price of a niche malaria medicine from $18 to $750 per pill, appears to the agency to be side-skirting his industry ban for securities fraud charges by starting up a new drug discovery company within weeks of leaving prison.

According to Fraiser Kansteiner, “Fast forward to July 2022, some two months after Shkreli returned to the streets, when Shkreli co-founded Druglike. Druglike, which promises to provide broader access to computing programs for designing potentially therapeutic molecules, describes itself as a ‘Web3 drug discovery software platform’ and ‘not a pharmaceutical company.’ But the FTC isn’t so sure about that, and it’s irked that Shkreli is making it harder to get to the bottom of things.”

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(Source: Fierce Pharma, January 20^th, 2023)