Judge: order Martin Shkreli to create a nonprofit biotech company as community service
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Martin Shkreli's behavior in the world of drug development has damaged the trust of the patient community his businesses pledged to serve. He now faces charges of looting his former pharmaceutical firm of 11 million dollars in order to pay off investors. It is clear from his behavior that he viewed the profession of developing life saving drugs as a way to become very wealthy. His debts go far beyond what he owed investors and extend to the patient community he has overcharged to enrich himself. The issue is particularly personal to me because I lost a child to a rare and incurable disease and one of Mr. Shkreli's many business ventures was a biotech company aimed at rare disease drug development.
The pharmaceutical industry in recent years has focused its attention on developing "specialty drugs" to treat rare diseases. The result has been a series of unsustainably priced drugs that become "blockbusters" for some pharmaceutical companies but unaffordable for patients and a drain on the healthcare system. I lost Chloe to a rare degenerative disease in 2010 and have been advocating for a more sustainable drug development model ever since. Nonprofit biotech has been successful in some sectors of the industry and I would like to apply it to the rare disease drug development. Join me in asking Judge Matsumoto that, should Martin Shkreli be found guilty, part of his sentence be to repay the debt he owes the patient community by working with my foundation to create a rare disease non-profit biotech company. Think of what he could achieve if his self-promotion were channeled into something for the greater good and join me in asking that working with my foundation be part of his rehabilitation.
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