The Real Reason 'Pharma Bro' Martin Shkreli Is Already Out Of Prison
Martin Shkreli, who was given the infamous nickname "Pharma Bro," quickly became one of the most despised business owners after he chose to raise the price of a medication used to treat the disease Chagas, which is caused by parasites (via The Atlantic). The drug had initially been on the market for $13.50 and he drastically upped the price to $750 in 2015 — altering the way many pharmacy services were able to distribute the much-needed medication. An adviser for the organization Doctors Without Borders told the outlet that this price hike was detrimental, as those who suffer from Chagas are often immigrants from Latin America. "Chagas is a disease of the poor," said the adviser, "so it's not a disease where people have access if prices are high."
Shkreli was ostracized for this greedy upcharge of a medication needed by financially struggling patients. Those upset by this found peace when justice was eventually served in 2018 when Shkreli was convicted of federal fraud charges (per CNBC). He was sentenced to seven years in prison, but his time behind bars was recently cut short.
Martin Shkreli is now a free man
"Pharma Bro" Martin Shkreli was released early from his seven-year prison sentence this week (via the New York Post). He served less than five years behind bars on his federal fraud charges — he was convicted for defrauding investors in multiple hedge funds. His attorney confirmed that he was released to a halfway house, issuing a statement that read, "I am pleased to report that Martin Shkreli has been released from Allenwood prison and transferred to a BOP halfway house after completing all programs that allowed for his prison sentence to be shortened."
Shkreli, who raised a life-saving drug's price by 5,000%, was released for completing a series of programs that essentially served as a way to cut his sentence short (per NPR). He has also been forced to forfeit any profits from the fraud he committed.
Famously banned from Twitter — like Marjorie Taylor Greene — Shkreli's first words after being released were, "Getting out of real prison is easier than getting out of Twitter prison." However, his attorney has encouraged him to refrain from making any more statements while Shkreli is still in the halfway house.