“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.