Aug 4, 2017

“Pharma bro” Shkreli convicted

Richard Drew / AP

Martin Shkreli — the former hedge-fund manager who became infamous after raising the price of a life-saving drug by more than 5,000% — was found guilty Friday of misleading investors, according to the Associated Press. The charges on which Shkreli was convicted Friday are unrelated to his drug-pricing scandal.

The back story: Shkreli rose to national notoriety after he bought the rights to the drug Daraprim, which had been on the market for years, and raised the price from $13.50 per pill to $750. He was hauled before Congress and became an easy target in the national uproar over high drug prices.

Why it doesn't matter: Daraprim still costs $750.

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