BLOG: Imagine being banned from your profession


Gabriel Dillard

California Attorney General Rob Bonta has made quite a splash in his first couple months in office. But when his own office’s news release talks of taking an “extraordinary” step, you know it’s going to be interesting.

Bonta’s office Friday afternoon announced securing a court order to ban “Pharma Bro” Martin Shkreli from the pharmaceutical industry for illegally orchestrating a monopoly on a lifesaving medication one of his companies produced.

What do you think of this? Fresno is known as a second-chance town, with a number of former felons working in very important roles in the business community. Is this fair, considering the human toll his crimes inflicted?

Here’s part of the release from Bonta’s office:

“Attorney General Bonta applauded the decision today by a federal district court in New York to permanently ban Shkreli, also known as the ‘Pharma Bro,’ from working in the pharmaceutical industry. Such relief ensures Shkreli will not be able to implement similar anticompetitive  schemes in the future. In addition to the ban, the court found Shkreli liable for $64.6 million in excess profits resulting from the unlawful conduct. Late last year, Attorney General Bonta announced a $40 million settlement against Vyera Pharmaceuticals, which was owned by Shkreli, as well as its parent company Phoenixus, and injunctive relief against former Vyera CEO Kevin Mulleady for their role in protecting the monopolistic pricing of Daraprim.

“Without regard for the lives he put at risk, Martin Shkreli orchestrated a scheme to raise the price of a vital medication from less than $20 to $750 — making it nearly impossible for the people who rely on the medication to access or afford it,” said Attorney General Bonta. “Today’s relief is extraordinary, and fair. Shkreli will be held accountable for his misconduct, and I hope it sends a message that similar conduct will not be tolerated.”





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