Former CEO of the pharmaceutical company Martin Shkreli, nicknamed Pharma Bro, who was convicted of business fraud, will not get out of prison in exchange for creating a vaccine against coronavirus.
Shkreli previously promised that if released from prison and allowed to work in a laboratory, he would quickly create a vaccine against COVID-19. The U.S. authorities have refused to release him in exchange for this offer. Federal Judge Kiyo Matsumoto denied Shkreli’s petition, calling his demands “delusional behavior at the extreme of self-glorification.
“The court does not believe that Martin Shkreli’s release will protect the public, although it seeks to use his experience with pharmaceuticals to help develop a drug for COVID-19 that he is supposed to provide free of charge,” Matsumoto wrote in the ruling. She noted that Shkreli was unable to demonstrate sufficient grounds for release for compassionate reasons.
As head of the Turing pharmaceutical company, Shkreli bought a patent for an HIV drug from Daraprim and raised the price from $13.50 to 750, spinning it 5,000%. Two years later, Shkreli was found guilty of securities fraud in managing two hedge funds and a separate pharmaceutical company. Shkreli is currently serving a seven-year sentence in prison.