WASHINGTON—A U.S. judge on Friday barred Martin Shkreli from the pharmaceutical industry for life and ordered him to pay $64.6 million after he famously raised the price of the drug Daraprim and fought to block generic competitors. U.S. District Judge Denise Cote in Manhattan ruled after a trial where the U.S. Federal Trade Commission and seven states had accused Shkreli, the founder of Vyera Pharmaceuticals, of using illegal tactics to keep Daraprim rivals out of the market. Shkreli drew notoriety in 2015 after hiking Daraprim’s price overnight to $750 per tablet from $17.50. The drug treats toxoplasmosis, a parasitic infection that threatens people with weakened immune systems. In a 130-page decision, Cote faulted Shkreli for creating two companies, Vyera and Retrophin Inc., designed to monopolize drugs so he could profit “on the backs” of patients, doctors, and distributors. She said the Daraprim scheme was “particularly heartless and coercive,” and a …