STAT+: FTC demands Martin Shkreli divest his pharma stocks

Federal agency and 7 states accuse ‘pharma bro’ of ‘flagrantly’ violating a court order Martin ShkreliDrew Angerer/Getty Images Jason is a general assignment reporter, with particular focus on genetic medicine and rare disease. Confidential tips can be sent on Signal at JasonMast.77. Martin Shkreli is back. The Federal Trade Commission isn’t happy. The FTC and seven states on Tuesday asked a federal court to hold Shkreli in contempt for “flagrantly and repeatedly” violating a court order banning him from working in the pharmaceutical industry. Shkreli, who became known nationwide as “pharma bro” in the 2010s for imperiously defending his decision to raise the price of an anti-parasitic drug called daraprim by 5,000%, was sentenced to seven years in prison for defrauding investors in 2018. Before he was released in 2022, a court banned him from ever working in the drug industry again, saying he illegally tried to prevent generic competition to daraprim. STAT+ Exclusive Story Already have an account? Log in This article is exclusive to STAT+ subscribers Unlock this article — plus in-depth analysis, newsletters, premium events, and news alerts. Already have an account? Log in View All Plans To read the rest of this story subscribe to STAT+. Subscribe General Assignment Reporter Jason is a general assignment reporter, with particular focus on genetic medicine and rare disease. Confidential tips can be sent on Signal at JasonMast.77.