Martin Shkreli, the former director of a pharmaceutical company, is yet to be released for good and has already announced a new drug idea to the world. “The most hated man in the US,” it seems, as the media put him, has no intention of being banned from working in the industry. He claims that this time he wants to help people.
- Martin Shkreli has announced that he intends to give the world a platform called Druglike to improve drug creation
- Blockchain technology is to be used for this. Trading is to be carried out using the Martin Shkreli Inu cryptocurrency
- In a statement, Druglike said the venture would allow people who were financially disadvantaged to have faster access to the medications they need
- Shkreli was released from custody in May, but is still under the control of the services. She will regain her freedom in September
- The businessman in the past became famous for raising the price of an HIV drug by 5. percent It was then that he gained the infamous nickname of “the most hated man in the USA”
- He ended up behind bars because of fraud. He also received a lifetime ban from working in the pharmaceutical industry
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The Druglike platform is still in its early stages of development, but Martin Shkreli’s intentions are already raising skepticism overseas.
Martin Shkreli is involved in creating drugs
«Druglike will remove barriers that emerge early in drug development, increase innovation and allow a wider audience to share the benefits. Insufficiently protected and underfunded communities facing rare diseases will also benefit from this solution, ”argues Shkreli quoted by arstechnica.com.
Early drug development can involve virtual activities. Scientists first identify the target, which is the specific factor responsible for the development of the disease. Then they develop solutions that can stop this process. This can be done physically in laboratories, but also virtually, using specialized software and using high computing power. Druglike is to enable the latter. The platform would operate through a network in which the screening of candidates for specific drugs would be analyzed.
Druglike is based on blockchain technology and cryptocurrency transactions. Blockchain is a technology used to store and transmit information about transactions concluded on the Internet, which are further arranged in successive data blocks.
However, it is not clear how the project will be financed. Shkreli is confident that the activity will not break his ban on working in the pharmaceutical industry, as his project will involve software development, not drug development. It is also unknown who will run the entire business.
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He is “the most hated man in the US”
On May 18, Shkreli was released from high-security custody. From there he went to the so-called a transition house supervised by the Federal Bureau of Corrections. There, he will prepare for his complete release, which will take place at the end of September. The man gained notoriety a few years ago when, as the owner of a pharmaceutical company, Turing Pharmaceuticals, he raised the price of an HIV drug by $ 5. percent
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The case concerned the drug Daraprim. The company led by Shkreli bought the rights to trade in a medicine that saves the lives of people weakened by HIV in 2015. The businessman’s decision was highly criticized by the Americans, and the local press described him as “the most hated man in the US”. He was accused of preying on human tragedies. The entrepreneur himself did not care too much, boasting about his lavish lifestyle.
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However, he found himself behind bars for another reason – it turned out that for years he had cheated investors from two hedge funds: MSMB Capital and MSMB Healthcare. The entrepreneur’s attorneys asked for a relatively short sentence, claiming that their client was depressed and anxious. They also emphasized that its victims were rich businessmen, and not the most needy. Shkreli was sentenced to seven years in prison, but he was released after five.