Shkreli Gave The Public A Face To Blame For Price Gouging. Now He’s A Convicted Felon
Martin Shkreli was found guilty of three counts of fraud and faces a possible prison sentence. But how has his case affected the pharmaceutical industry?
Stat:
The Shkreli Saga: What's Changed? What Hasn't? And What's Next?
Martin Shkreli, the hoodie-clad bete noire that pharma uses as a moral yardstick, is now a convicted felon. ... And in the years since the scandal surrounding Shkreli’s Turing Pharmaceuticals, the tone around drug pricing has gone from peripatetic frustration to ongoing outrage. Each new drug approval is met with “Yes, but how much will it cost?” Headlines that once heralded medical innovation are now sure to include words like “pricey,” “costly,” or “expensive.” Companies that withhold pricing information upon approval are only prolonging the inevitable. (Garde, 8/4)
Stat:
Shkreli Is Convicted Of Fraud. Can Pharma Finally Slam The Door On Him?
Is this the end of the line for the “pharma bro” with the perpetual smirk? Martin Skhreli was found guilty on Friday of three counts of fraud after a five-week trial in federal court in Brooklyn, N.Y. He faces a prison sentence that could stretch years. ... The big question now: Can the pharma industry finally slam the door on Shkreli, after complaining for nearly two years that his price-hiking antics tainted the reputation of the entire field? (Keshavan, 8/4)
The Associated Press:
Convicted ‘Pharma Bro’ Has An Image Problem, Lawyer Concedes
Martin Shkreli, the eccentric former pharmaceutical CEO notorious for a price-gouging scandal and for his snide “Pharma Bro” persona on social media, was convicted Friday on federal charges he deceived investors in a pair of failed hedge funds. A Brooklyn jury deliberated five days before finding Shkreli guilty on three of eight counts. He had been charged with securities fraud, conspiracy to commit securities fraud and conspiracy to commit wire fraud. (Hays and Neumeister, 8/4)
