If he was negligent in his distribution of the drug, then yes he deserves to be punished for it. Any time the safety of another human is placed in your hands through a specific career field, there will be procedures and guidelines that need to be followed. He didnt, and that played a role in MJ's death.
Not saying that I liked MJ or anything, personally I think he was a scumbag. But the doctor screwed up according to the testimony of several other medical experts.