Following news today that Martin Shkreli has resigned as CEO of Turing Pharmaceuticals, the Human Rights Campaign (HRC), the nation’s largest lesbian, gay, bisexual and transgender (LGBT) civil rights organization, called on the drug maker’s interim CEO Ron Tilles to immediately reduce the cost of the life-saving drug Daraprim to its original price.
Advertisement
Following his arrest, Shkreli stepped down as CEO of Turing Pharmaceuticals.
They co-founded another pharmaceutical company, Retrophin Inc (RTRX.O), that is at the centre of the securities fraud charges against Shkreli.
The charges state he used those resources to pay off debts from other business dealings, according to Bloomberg.
Earlier this year, the perpetually greasy Shkreli had given $15,000 to Community Solutions, a New York-based charity.
Shkreli tweeted: “I am confident I will prevail”.
Shkreli’s arrest and indictment made it untenable for him to stay as chief executive of Turing, according to one Turing investor.
Turing also said it was sending a similarly worded letter to doctors stressing that it will continue to offer financial assistance to eligible patients needing Daraprim who are either uninsured or have commercial insurance.
However, karma bites – and Shkreli was arrested on Thursday by federal agents, over allegations of fraud at his now-defunct hedge fund MSMB Capital Management.
Turing, which has offices in NY and Zug, Switzerland, said Tilles has worked with several securities firms, starting with Merrill Lynch in 1985.
On Thursday night, he said via a statement that he was confident he would be cleared of all charges and denied the charges regarding his hedge fund entities.
A Twitter spokesman said the company does not comment on individual accounts for privacy and security reasons. KaloBios shares plunged 53 percent on Friday before trading was halted.
Advertisement
Nasdaq has placed KaloBios’ stock on a trading halt until the company provides more information. He was released on $5 million bail. “Thanks for the support”.
