Supreme Court Denies Shkreli's $64.6 Million Penalty Appeal

The Supreme Court declined to hear Martin Shkreli's appeal against a $64.6 million penalty for raising a drug's price by over 4,000%. The penalty corresponds to profits from raising Daraprim's price and includes a lifetime ban from the drug industry. Shkreli remains hopeful for future legal recourse.

The U.S. Supreme Court has decided not to entertain Martin Shkreli's challenge regarding the $64.6 million financial penalty he faces. This penalty was imposed following his notorious decision to hike a drug price by more than 4,000%, a move deemed reprehensible by the courts.

The penalty, along with a lifetime ban from the pharmaceutical industry, was upheld by the 2nd U.S. Circuit Court of Appeals. Shkreli's appeal alleged unfairness in the penalty, as he argued he never received the full profits personally. However, his plea to the Supreme Court did not find traction.

Despite the setback, Shkreli's legal team remains optimistic about future opportunities should there be a shift in legal precedent. Shkreli, who served over four years in prison for separate securities fraud charges, continues his career as a software developer and legal consultant post-incarceration.

(With inputs from agencies.)