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“Pharma Boy’ Objects To Lifetime Pharma Ban

 |  February 6, 2022

A US judge on Friday rejected former pharmaceutical executive Martin Shkreli’s objections to being banned for life from the drug industry and having to repay $64.6 million after jacking up the price of a lifesaving drug, reported Reuters. 

Lawyers for Shkreli, 38, had argued that the ban was overbroad and violated his right to free speech under the US Constitution’s First Amendment by barring him from publicly discussing the drug industry, even on a blog.

In imposing a permanent injunction, US District Judge Denise Cote said Shkreli’s antitrust violations cost him that right when he intended to “influence the management or business” of a pharmaceutical company.

The Manhattan-based judge also said that requiring Shkreli to sell his shares in Phoenixus AG, the parent of Vyera Pharmaceuticals Inc, did not violate his due process rights after he used his position as its largest shareholder to orchestrate the antitrust violations.

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