Martin Shrekli, "Pharma Bro", thought the best commercial opportunity would be to raise the price of a life-saving drug, Daraprim, from $17.50 to $750.00.
Yes, you read that right- more than a 4000% markup. The ROI of gauging the prices of a life-saving drug for AIDS patients wasn't enough for Martin. So he decided what would be best was defrauding investors (two in hedge funds) and scheming to defraud additional investors and a drug maker.
What happened?
Martin was convicted and served over four years out of a five-year sentence. In 2022, Martin was banned from working in the pharmaceutical industry. However, Martin still had a vision and appealed the decision. On Tuesday, 23 January 2024, the appeals court upheld his ban.
What is Martin doing today?
He is a lawyer and software developer. 👀
What do you think the social and economic sustainability impacts of Martin's scheme are for Pharma, investors, and the patients who needed Daraprim?