Privately held drugmaker Turing Pharmaceuticals Inc is close to replacing Chief Executive Martin Shkreli, the Wall Street Journal reported on Friday, a day after the Federal Bureau of Investigation arrested him on charges of securities fraud. “That’s the ugly, dirty truth”, said Shkreli in a health summit, defending his actions. Following extreme criticism for the increase, including from Hillary Clinton, Bernie Sanders, and Donald Trump, Shkreli said he would keep the $750 price but would offer volume discounts.
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A police spokesperson said the incident occurred in the afternoon near the Old City’s Jaffa Gate, a popular tourist spot. Most have taken place around the Damascus Gate, the main entrance to the Old City’s Muslim quarter.
Tilles’ statement said Turing was “committed to ensuring that all patients have ready and affordable access to Daraprim” and Vecamyl, a Turing drug for treating malignant hypertension, high blood pressure that develops suddenly.
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An attorney who represented Shkreli in a previous civil lawsuit did not return calls seeking comment, nor did federal prosecutors.
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Maybe they just want to be on his “like” list so they can keep abreast of his latest antics. Trump said he didn’t do it for the polls, so he doesn’t care what the polls say.
The Atlantic published an in-depth piece speculating about various circumstances in which the arrest could free Once Upon a Time in Shaolin from Shkreli’s grasp – including asset forfeiture or the CEO selling the album to pay raise money for legal defense.
United States police officials arrested Shkreli on Thursday and charged him with a brazen fraud scheme in which he lied to investors, moved money between investments to cover losses in other vehicles and siphoned off cash for personal expenses.
The security fraud charges were for his time in Retrophin, which he co-founded, and MSMB Capital Management, a hedge fund, which he also co-founded.
Tilles has served as Turing’s chairman since the company’s launch in late 2014.
Shkreli, who has previously denied these allegations, faces a maximum sentence of 20 years in prison if convicted on all charges.
“Turing is a mess”, said one investor in the company involved in the talks which led to Shkreli’s exit.
U.S. Magistrate Judge Robert Levy approved his release on a $5 million bond. Shares of KaloBios plunged by close to 50 percent on the back of the reports and trading had to be halted in the shares.
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In recent months, Shkreli has made controversial remarks in the press about raising drug prices and taunted detractors, including Democratic presidential candidate Bernie Sanders, on social media outlets.
