BRO BE­HIND BARS

Forbes - - STRATEGIES -

for years “pharma Bro” martin shkreli has courted trou­ble—so much so that our fe­bru­ary 2016 fea­ture on the drug exec was head­lined “solv­ing pharma’s shkreli prob­lem.” matthew Her­per de­tailed how shkreli, then just 32, had be­come “the most hated man in amer­ica” by hik­ing the cost of an in­fec­tion­fight­ing medicine by 5,000% and do­ing so with icy hau­teur. “i think health care prices are in­elas­tic,” he told Her­per at a Forbes health care con­fer­ence, later adding that “my in­vestors know what i do with [their] money. i mul­ti­ply it for them. That’s my job. i did re­ally well, and i’m go­ing to keep do­ing it.” Well, for a time. on march 9, shkreli was sen­tenced to seven years in prison—not for the price hikes, which were un­seemly but le­gal, but for se­cu­ri­ties fraud re­gard­ing his hedge fund, ex­ag­ger­at­ing to in­vestors his ac­tual as­sets under man­age­ment ($1 mil­lion) by a fac­tor of 125. The gov­ern­ment can now seize as­sets to sat­isfy a con­comi­tant $7.36 mil­lion for­fei­ture. pharma Bro—for the next hand­ful of years, any­way—has ceded the spot­light to prison Bro.

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