FTC alleges Martin Shkreli violated lifetime pharmaceutical ban

<p>Martin Shkreli, a former pharmaceutical executive known for significantly increasing the price of a lifesaving anti-parasitic drug, has been under a lifetime ban from the pharmaceutical industry since 2022. The Federal Trade Commission (FTC) and attorneys general from seven states claim that Shkreli has repeatedly violated this ban by trading stocks in various drug companies and discussing the pharmaceutical industry during livestreams on social media.</p><p>On October 13, 2026, the FTC and the seven states requested a federal judge to hold Shkreli in contempt for these alleged violations. The states involved include New York, California, Illinois, North Carolina, Ohio, Pennsylvania, and Virginia. These states previously joined the FTC in a lawsuit against Shkreli in 2020 regarding an anticompetitive scheme related to the anti-parasitic drug Daraprim, which saw its price increase from $17.50 to $750 per pill almost overnight while preventing generic competitors from entering the market.</p>