New Tool: ProSource
Checkout our packaging and processing solutions finder, ProSource.

Pharma CEO Arrested on Federal Fraud Charges

The 32-year-old has also been under scrutiny for raising the prices of a life-saving drug

You may not remember his name, but you will certainly recall Martin Shkreli's story.

He is the 32-year-old drug company entrepreneur who created a media frenzy several months back after he hiked prices of life-saving drug, Daraprim, from $13.50 to $750.

Now, Shkreli finds himself back in the headlines after federal agents arrested him on securities fraud related to a firm he founded.

According to Bloomberg Business, "prosecutors in Brooklyn charged him with illegally taking stock from Retrophin Inc., a biotechnology firm he started in 2011, and using it to pay off debts from unrelated business dealings."

These charges are unrelated to the pharmaceutical drug cost controversy.

Discover Our Content Hub
Access Healthcare Packaging's free educational content library!
Read More
Discover Our Content Hub
Test Your Supply Chain Smarts
Take Healthcare Packaging's supply chain quiz to prove your knowledge!
Read More
Test Your Supply Chain Smarts