Supreme Court Snubs Martin Shkreli's $64.6 Million Appeal

The U.S. Supreme Court refused to hear Martin Shkreli's appeal against a $64.6 million penalty imposed for steeply raising a drug's price. The penalty was equivalent to profits made from the price hike of Daraprim in 2015, earning Shkreli the moniker 'Pharma Bro.'

The U.S. Supreme Court took a definitive stance on Monday by declining to address former pharmaceutical executive Martin Shkreli's appeal concerning a substantial financial penalty. The court's refusal means Shkreli must uphold a $64.6 million penalty, a sum reflecting his and his company's profits after dramatically inflating the cost of a critical medication.

Shkreli, often referred to in the media as 'Pharma Bro,' rose to notoriety following his 2015 decision to raise the price of the drug Daraprim by over 4,000%. The public backlash was intense, and the legal repercussions were swift. The penalty in question was originally imposed by U.S. District Judge Denise Cote in Manhattan in 2022.

This latest legal development solidifies the previous lower court's decision, maintaining the hefty financial consequences for Shkreli's controversial actions in the pharmaceutical industry. The Supreme Court's decision signals a significant moment in the ongoing discourse surrounding drug pricing and corporate accountability.

(With inputs from agencies.)