Mar­tin Shkre­li sen­tenced to 7 years on felony fraud con­vic­tions

Fed­er­al judge Kiyo Mat­sumo­to in a Brook­lyn court to­day sen­tenced Mar­tin Shkre­li to 7 years on three felony fraud con­vic­tions, end­ing a lengthy pub­lic spec­ta­cle in which the biotech ex­ec man­aged to re­peat­ed­ly en­rage the pub­lic over his drug pric­ing schemes. He was con­vict­ed, though, on charges re­lat­ed to ly­ing to in­vestors in his hedge funds.

Shkre­li’s at­tor­ney, Ben Braf­man, had waged a skill­ful cam­paign to guard the de­fi­ant young ex­ec, who, af­ter mak­ing bail, wound up back in prison await­ing sen­tenc­ing af­ter the judge was an­gered by Shkre­li’s bizarre of­fer of a $5,000 boun­ty on Hillary Clin­ton’s hair. The judge al­lowed 6 months cred­it for time served, leav­ing a long stretch for Shkre­li be­hind bars.

Min­utes be­fore the sen­tenc­ing, Braf­man ar­gued the gov­ern­ment’s re­quest for 15 years was in­ap­pro­pri­ate, call­ing it “dra­con­ian.” Braf­man said Shkre­li “may be bril­liant in cer­tain mat­ters,” but “lacks cer­tain so­cial skills.” He plead­ed with the judge not to rule harsh­ly on Shkre­li “just for be­ing Mar­tin Shkre­li.”

Mat­sumo­to as­sured Braf­man that Shkre­li’s so­cial me­dia pres­ence — and the mat­ter of drug pric­ing — were not is­sues for her.

“He be­haved re­spect­ful­ly in court,” she said.

In his wrap-up, Braf­man last­ly pled that the judge re­con­sid­er the lev­el of se­cu­ri­ty Shkre­li should be jailed in.

When the gov­ern­ment was up to lay its case against Shkre­li, they did it suc­cinct­ly.

In short, they called Shkre­li’s de­fense ab­surd, es­pe­cial­ly the part about spar­ing him for sci­ence’s sake.

Shkre­li him­self made his last state­ments, call­ing his con­duct both neg­li­gent and stu­pid.

Dur­ing the sen­tenc­ing, Mat­sumo­to said she as­sumed Shkre­li would ap­peal any sen­tence he was giv­en, and Braf­man con­firmed lat­er that he would ap­peal.


Im­age: Court­room sketch of Mar­tin Shkre­li and his lawyer Ben Braf­man. AP IM­AGES

Pablo Legorreta, founder and CEO of Royalty Pharma AG, speaks at the annual Milken Institute Global Conference in Beverly Hills, California (Patrick T. Fallon/Bloomberg via Getty Images)

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Paul Hudson, Sanofi CEO (Getty Images)

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The Advance Clinical leadership team: CEO Yvonne Lungershausen, Sandrien Louwaars - Director Business Development Operations, Gabriel Kremmidiotis - Chief Scientific Officer, Ben Edwards - Chief Strategy Officer

How Aus­tralia De­liv­ers Rapid Start-up and 43.5% Re­bate for Ear­ly Phase On­col­o­gy Tri­als

About Avance Clinical

Avance Clinical is an Australian owned Contract Research Organisation that has been providing high-quality clinical research services to the local and international drug development industry for 20 years. They specialise in working with biotech companies to execute Phase 1 and Phase 2 clinical trials to deliver high-quality outcomes fit for global regulatory standards.

As oncology sponsors look internationally to speed-up trials after unprecedented COVID-19 suspensions and delays, Australia, which has led the world in minimizing the pandemic’s impact, stands out as an attractive destination for early phase trials. This in combination with the streamlined regulatory system and the financial benefits including a very favourable exchange rate and the R & D cash rebate makes Australia the perfect location for accelerating biotech clinical programs.

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Dan O'Day, Gilead CEO (Andrew Harnik, AP Images)

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Hotly rumored for weeks, the 2 players have formalized a 10-year alliance that starts with rights to the PD-1, zimberelimab. O’Day also has first dibs on TIGIT and 2 other leading programs, agreeing to an opt-in fee ranging from $200 million to $275 million on each. There’s $500 million in potential TIGIT milestones on US regulatory events — likely capped by an approval — if Gilead partners on it and the stars align on the data. And there’s another $150 million opt-in payments for the rest of the Arcus pipeline.

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No­var­tis jumps in­to Covid-19 vac­cine hunt, as Big Phar­ma and big biotech com­mit to bil­lions of dos­es

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Stymied by the pan­dem­ic, Im­munomedic­s' new CEO bows out, tak­ing a mil­lion bucks plus perks as he heads out the vir­tu­al ex­it

Just a little more than a month since taking over as the latest CEO to helm Immunomedics, $IMMU Harout Semerjian is exiting the company after being confronted by “logistical” obstacles thrown up by the pandemic that made it impossible for him to move from London to carry out the job. And he’s getting a little over a million dollars in cash plus perks to grease the skids on the way out.

Word of the changeup arrived right after the market closed Wednesday.

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Bryan Roberts, Venrock

Ven­rock sur­vey shows grow­ing recog­ni­tion of coro­n­avirus toll, wan­ing con­fi­dence in ar­rival of vac­cines and treat­ments

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Fabrice Chouraqui, Cellarity CEO-partner (LinkedIn)

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Fabrice Chouraqui’s career has taken some big twists along his life journey. He got his PharmD at Université Paris Descartes and jumped into the drug development game for a bit. Then he took a sharp turn and went back to school to get his MBA at Insead before returning to pharma on the commercial side.

Twenty years later, after steadily rising through the ranks and journeying the globe to nab a top job as president of US pharma for the Basel-based Novartis, Chouraqui exited in another career switch. And now he’s headed into a hybrid position as a CEO-partner at Flagship, where he’ll take a shot at leading Cellarity — one of the VC’s latest paradigm-changing companies of the groundbreaking model that aspires to deliver a new platform to the world of drug R&D.