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10 mentions found


☆ Wu-Tang Clan: Fans can finally get a chance to listen to the band’s one copy album… but there’s a catch
  + stars: | 2024-05-28 | by ( Kathleen Magramo | ) edition.cnn.com   time to read: +3 min
Wu-Tang Clan first announced in March 2014 that it would produce one copy of “Once Upon a Time in Shaolin” to be sold to the highest bidder. The album came in a hand-carved box with a leather-bound book of parchment paper containing lyrics and its backstory. The Wu-Tang Clan originated as a group of rappers from Staten Island, New York in the 1990s. In 2015, notorious “Pharma Bro” Martin Shkreli bagged the album for about $2 million – making it the world’s most expensive music album ever sold at the time. In 2021, the US Justice Department then sold the album without disclosing the buyer.
Persons: CNN —, ”, Wu, Jarrod Rawlins, “, ” Rawlins, Tang, ” Wu, Robert “ RZA ” Diggs, Forbes, RZA, Tang Clan, Bob Berg, Pharma Bro ” Martin Shkreli, Shkreli, Jon Lynn, PleasrDAO Organizations: CNN, Museum, Mona, Tang Clan, Pharma, America ”, Turing Pharmaceuticals, US Justice Department, DoJ, New Art Digital, New York Times Locations: Tang, Tasmania, Staten Island , New York, Shkreli, America
☆ From Taylor Swift tickets to gasoline — these days everyone feels like they’re being price-gouged. Are they?
  + stars: | 2024-05-18 | by ( Elisabeth Buchwald | ) edition.cnn.com   time to read: +8 min
Taylor Swift performs onstage during "Taylor Swift | The Eras Tour" at SoFi Stadium on August 09, 2023 in Inglewood, California. At the core of the increasingly common accusation of price gouging is the sense that the consumer is being exploited. Price gouging is in the eye of the bidderGavin Roberts, chair of Weber State University’s economics department and who studies the effect of anti-price gouging laws, said the laws themselves often don’t define what price gouging is. Corporations charging as much as they can, as painful as it may be for consumers, doesn’t mean they’re necessarily price gouging, said Roberts. Steven Suranovic, an economics professor at George Washington University who has also published research on price gouging, sees it differently.
Persons: Emily Miller lucked, Taylor, Miller, Swift, ” Miller, Taylor Swift, Kevin Winter, it’s, —, Joe Biden — can’t, we’re, Gavin Roberts, Biden, ”, Biden hasn’t, ” Biden, Roberts, Steven Suranovic, Martin Shkreli, Shkreli, Price, Trent Sprague, Lyft, Uber, Travis Kalanick, It’s, ” Suranovic, Rafi Mohammed, Stefani Reynolds, Teresa Murray Organizations: New, New York CNN, CNN, Rights, Weber State, Corporations, George Washington University, Turing Pharmaceuticals, LinkedIn, O'Hare International, Chicago Tribune, Tribune, Service, Consumer, Culture, Profit, Getty Locations: New York, Pittsburgh, Cleveland, Inglewood , California, Chicago, New York City, Washington ,, AFP, US
☆ Appeals court upholds 'pharma bro' Martin Shkreli lifetime ban from drug industry
  + stars: | 2024-01-23 | by ( Dan Mangan | ) www.cnbc.com   time to read: +4 min
A federal appeals court Tuesday upheld a lifetime ban on "pharma bro" Martin Shkreli from working in the pharmaceuticals industry as well as an order to pay up to $64.6 million in disgorged profits for blocking competition to the drug Daraprim. His lawyer, Benjamin Brafman, in a statement to CNBC on the appeals court decision, said, "The lifetime ban is too severe." In its eight-page ruling, the appeals court noted that Shkreli argued that Manhattan federal court Judge Denise Cote "abused" her discretion in imposing a lifetime ban on him from the drug business. "The district court found, and Shkreli does not dispute, that Shkreli's illegal scheme was "egregious, deliberate, repetitive, long-running, and ultimately dangerous." "Given his strategic decision in the district court, there is no injustice to Shkreli by us declining to address his new argument."
Persons: Martin Shkreli, pharma bro, Shkreli, Benjamin Brafman, Brafman, Denise Cote, —, Peluso Organizations: Turing Pharmaceuticals AG, pharma, U.S, Circuit, New, Federal Trade Commission, CNBC, FTC, Vyera Pharmaceuticals, Phoenixus, Mr Locations: New York, California, Manhattan
☆ New York AG pushing for lifetime Trump ban cites Martin Shkreli ruling
  + stars: | 2024-01-23 | by ( Dan Mangan | ) www.cnbc.com   time to read: +2 min
Martin Shkreli, former chief executive officer of Turing Pharmaceuticals AG, exits court in New York, US, on Wednesday, Oct. 4, 2023. What does former President Donald Trump have in common with "Pharma bro" Martin Shkreli? A penchant for harshly trolling their enemies online and an attorney general who wants both of them banned for life from their preferred business. The ruling stemmed from an antitrust lawsuit James, the Federal Trade Commission, and six other states filed against Shkreli. James, in that case, asked Judge Arthur Engoron to ban Trump for life from the New York real estate industry and to bar his sons, Donald Trump Jr. and Eric Trump, from that sector for five years, along with fining them $360 million.
Persons: Martin Shkreli, Donald Trump, Pharma bro, Letitia James's, James, Judge Arthur Engoron, Donald Trump Jr, Eric Trump, Engoron, Colleen Faherty Organizations: Turing Pharmaceuticals AG, Pharma, New York, Shkreli, Trump, U.S, Circuit, New York federal, Federal Trade Commission, New Locations: New York, Manhattan, Fed
☆ SpaceX to launch the first test payload for a bold new drug development company
  + stars: | 2023-06-12 | by ( Jackie Wattles | ) edition.cnn.com   time to read: +17 min
Its research, company officials hope, could lead to better, more effective drugs — and hefty profits. Varda Space industriesHow it worksVarda’s vision is straightforward: The company’s capsule will launch with an experiment already on board. Varda Space IndustriesDrugs in spaceMuch of the legwork for Varda’s drug experimentation can be done on the ground. The exorbitant price tag of drug research is often passed on to consumers in the form of eye-popping prices, which frequently draws critical headlines. “You’ll see like this entire ecosystem coming up to create this fertile ground for commercialization of space,” Bruey said.
Persons: El, Varda, “ It’s, ”, Will Bruey, ” Varda, what’s, Merck, Keytruda, Varda’s, Covid, that’s, Gabe Ramirez, ” Bruey, Elon Musk, Peter Thiel, “ I’ve, ” Asparouhov, Asparouhov, “, who’s, You’re, Nicholas Cialdella, Bruey, Jon Barr, Mark Herbert, there’s, Eric Lasker, ” Lasker, Varda isn’t, It’s, Paul Reichert, Merck hasn’t, Reichert, Herbert Organizations: El Segundo , California CNN, Citigroup, Varda Space Industries, SpaceX, Vandenberg Space Force, Big pharma, Merck, Bristol Myers Squibb, ISS, Laboratory, Space Station, Rocket, CNN, NASA, Company, Founders Fund, PayPal, Pharmaceuticals, Fortune, Space Industries, US Air Force, Utah Test, pharma, “, Congressional, International Locations: El Segundo , California, California, Los Angeles, Delian, Salt Lake City, ”
☆ 'Pharma bro' Martin Shkreli is out of jail and living with his sister in Queens, and now earns $2,500 a month as a law firm consultant
  + stars: | 2023-05-24 | by ( Aditi Bharade | ) www.businessinsider.com   time to read: +3 min
Martin Shkreli is out of jail and earning $2,500 a month working as a consultant at a law firm. Shkreli is also living in Queens with his sister, per a report by the US Probation Office. A year after getting out of jail, Martin Shkreli — also known as "Pharma Bro" — is earning $2,500 as a consultant for a law firm, and living with his sister in Queens, New York. However, Shkreli was released from jail early in May 2022, after which he was transferred to a halfway house, where he lived until September. Upon getting out of jail, he posted a selfie of himself on Facebook, saying: "Getting out of real prison is easier than getting out of Twitter prison."
☆ Martin Shkreli-founded drug company files for bankruptcy
  + stars: | 2023-05-10 | by ( Dietrich Knauth | ) www.reuters.com   time to read: +3 min
Vyera said its bankruptcy was the result of declining profits, increased competition for generic drugs, and litigation alleging that Vyera suppressed competition for its most valuable drug, Daraprim. Daraprim is a life-saving anti-parasitic medicine that Shkreli infamously raised the price on by more than 4000% and worked to choke off generic competition for after the company acquired the drug in 2015. Vyera filed a Chapter 11 plan in court on Wednesday, laying out it its intent to repay creditors through asset sales. Vyera said that recently-sold vouchers have fetched prices between $95 million and $120 million in sales that have occurred since 2020. Vyera listed Duane Morris as its largest unsecured creditor in its bankruptcy filing, with a $2.1 million asserted debt.
☆ FTC asks judge to hold 'pharma bro' Martin Shkreli in contempt of court for forming new drug firm
  + stars: | 2023-01-20 | by ( Dan Mangan | ) www.cnbc.com   time to read: +4 min
The Federal Trade Commission on Friday asked that notorious "pharma bro" Martin Shkreli be held in contempt of court for forming a new drug company in violation of a judge's ban on the convicted fraudster from working in the pharmaceuticals industry. In its court filing Friday, the FTC noted that Shkreli in July announced the formation of a new company, Druglike, "that appears to be involved in the drug industry." The FTC said Shkreli is required by Cote's order to provide the agency with that information. Benjamin Brafman, a lawyer for Shkreli, declined to comment on the FTC filing. Shkreli was driven back to New York from his prison in Pennsylvania by a friend, Edmund Sullivan, who had previously served on the board of Retrophin.
☆ U.S. asks judge to hold Shkreli in contempt for allegedly flouting pharma industry ban -filing
  + stars: | 2023-01-20 | by ( ) www.reuters.com   time to read: +1 min
[1/2] Former drug company executive Martin Shkreli exits U.S. District Court after being convicted of securities fraud, in the Brooklyn borough of New York City, U.S., August 4, 2017. REUTERS/Carlo AllegriWASHINGTON, Jan 20 (Reuters) - The U.S. Federal Trade Commission (FTC) asked a federal judge on Friday to hold Martin Shkreli in contempt for allegedly impeding its efforts to determine whether he flouted a ban on working in the pharmaceutical industry. Shkreli was released early from prison last May. U.S. District Judge Denise Cote imposed the lifetime drug industry ban and $64.6 million penalty last February, related to Shkreli's efforts to keep generic Daraprim rivals off the market. Reporting by Diane Bartz and Jon Stempel; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.
☆ FTC calls on federal court to hold ‘pharma bro’ Martin Shkreli in contempt
  + stars: | 2023-01-20 | by ( Brian Fung | ) edition.cnn.com   time to read: +2 min
Washington CNN —The Federal Trade Commission on Friday called for a federal court to hold “Pharma Bro” Martin Shkreli in contempt after Shkreli allegedly flouted a recent FTC investigation into his business dealings and failed to make a $64.6 million payment he owed for his prior wrongdoings. The FTC’s contempt motion follows what the agency described as its an unsuccessful attempt to verify whether Shkreli has violated a court order barring him from ever working in the pharmaceutical industry again. Shkreli also infamously raised prices for the life-saving medication Daraprim by 4,000% while he was head of Turing Pharmaceuticals. When the FTC emailed Shkreli to get documents from him and to schedule an interview about the matter, Shkreli repeatedly missed deadlines and allegedly slow-walked his responses, according to an FTC court filing Friday. The FTC also said Shkreli had been ordered to make his multimillion-dollar payment — representing a refund of his ill-gotten Daraprim gains — by March 6, 2022.
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