Skip to main content
Find a Lawyer
Please enter a legal issue and/or a location
Begin typing to search, use arrow keys to navigate, use enter to select

Find a Lawyer

More Options

Is Shkreli Directing His Pharma Company From Prison?

By William Vogeler, Esq. | Last updated on

If nothing else, Martin Shkreli has huevos.

That's how they talk in prison anyway. Infamous for raising the price of a pharmaceutical drug from $13 to $750 a pill, Shkreli is serving seven years for securities fraud.

Now he is reportedly running his business from prison. That would be huevos; and we're not talking about eggs.

Prison Business

According to reports, Shkreli oversaw a $20 million deal with Orphan Star Therapeutics last September. It is supposed to develop drugs for rare diseases.

In January this year, his company licensed a drug to a company called Seelos for $1.5 million plus 250,000 shares. This all happened while Shkreli was behind bars, apparently with a contraband phone.

That's against the law. Apparently, the Federal Bureau of Investigation is looking into it.

In any case, the deals haven't helped Shkreli's business that much. The Wall Street Journal said his company is losing millions.

"Pharma Bro"

Before he was convicted in 2017, Shkreli was known as "Pharma Bro" for his notorious 5,000 percent price-hike. He was convicted for unrelated wrongs.

Prosecutors said he misled investors about one of his funds. He told them it had a 35.77 percent return, when in fact it had lost 18 percent.

That's also called huevos. And we're not talking about money.

Related Resources:

Was this helpful?

You Don’t Have To Solve This on Your Own – Get a Lawyer’s Help

Meeting with a lawyer can help you understand your options and how to best protect your rights. Visit our attorney directory to find a lawyer near you who can help.

Or contact an attorney near you:
Copied to clipboard