Supreme Court rejects appeal from ‘Pharma Bro’ Martin Shkreli

Associated Press

WASHINGTON (AP) — The Supreme Court on Monday rejected an appeal from Martin Shkreli, who was once dubbed “Pharma Bro” after jacking up the price of a lifesaving drug. Shkreli appealed an order to return $64.6 million in profits he and his former company reaped after monopolizing the market for the medication and drastically increasing its price. His lawyers argued that money went to his company rather than him personally. Prosecutors, though, said the company had agreed in a settlement to pay $40 million, and because Shkreli masterminded the scheme he should bear responsibility for repaying profits.