Martin Shkreli: The Man Who Was Bannned From The Pharmaceutical Industry
Martin Shkreli is an entrepreneur and former hedge fund manager who gained notoriety in the pharmaceutical industry. He is best known for his role as the CEO of Turing Pharmaceuticals (later Vyera Pharmaceuticals) where he infamously raised the price of the life saving drug Daraprim by more than 5,000% in 2015, from $13.50 to $750 per pill. This drew widespread condemnation from the public, media, and politicians, and he was often labeled as "the most hated man in America."
In addition to his controversial pharmaceutical pricing practices, Shkreli was involved in various legal issues. In 2017, he was convicted of securities fraud for misleading investors about the performance of two hedge funds he managed and for manipulating shares of Retrophin, a biotechnology firm he founded. He was sentenced to seven years in prison in 2018 and ordered to forfeit $7.36 million in assets. Shkreli has also been known for his provocative and often abrasive public persona, particularly on social media.