Infamous pharma executive Martin Shkreli’s social media posts have finally landed him in jail. Dubbed the “pharma bro,” Shkreli asked followers to obtain a hair from Hillary Clinton on her book tour, prompting a judge to pull his bail.
While awaiting sentencing on a securities fraud conviction, Shkreli posted on Facebook that he’d offer “$5,000 per hair” from former presidential candidate Clinton. A judge in New York said the post could be considered a real threat, according to the New York Times. Judge Kiyo A. Matsumoto revoked Shrekli’s $5 million bail and he was sent to jail.
Shkreli later edited the post to say it was sarcastic and then deleted the post, according to the newspaper.
In jail, he’ll await sentencing on three securities fraud convictions set for January. Shkreli, who gained infamy back in 2015 with his 5,000% price hike on Daraprim and defiant tone toward critics afterward, has previously said he thought he’d avoid jail.
Of course, his conviction had nothing to do with the Daraprim price hike. Shkreli actually came under legal heat from his time as CEO at Retrophin. Last month, a jury convicted him of misleading investors during his tenure there. His attorneys tried to portray him as a misunderstood genius.
After his time at Retrophin, Shkreli ran Turing Pharmaceutical, where he became the national embodiment of the public's perception of pharma greed. Shkreli’s hike on Daraprim helped set off a pricing firestorm that has roiled the industry for several years, only quieting of late. After price hikes from Turing, Valeant and Mylan came to light, larger drug companies sought to distance themselves from the so-called serial price hikers. Industry lobbying group PhRMA even booted more than 20 members with new R&D requirements.
The price hikes created so much outrage that some thought they might trigger a regulatory overhaul from Congress; drugmakers have largely dodged meaningful action on the issue. Now, many states are hoping to tackle drug prices. Maryland and Nevada have passed pharma pricing bills, and another is in on the governor’s desk in California.