The hits just keep on coming for “pharma bro” Martin Shkreli.
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After being arrested on charges of securities fraud last week, and subsequently resigning from his position as CEO of Turing Pharmaceuticals, Shkreli has been fired from his positon as CEO at KaloBios Pharmaceuticals.
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Martin Shkreli (C), a former hedge fund manager and Chief Executive Officer of Retrophin, leaves the federal court after getting bail, in NY on December 17, 2015.
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KaloBios Pharmaceuticals Inc.is a faltering drug company whose shares skyrocketed after November 19, when Martin Shkreli disclosed a huge stake and became its CEO and board chairman.
Shkreli was already widely reviled because a different drug company he founded, Turing Pharmaceuticals, raised the price of a life-saving drug from United States dollars 13.50 to USD 750 per pill.
” ‘Trying to find anything we could to stop him, ‘ was the attitude of the government”, Mr. Shkreli said, flanked by his lawyers in a midtown Manhattan conference room Sunday afternoon.
Now, in his first interview since being arrested last week on suspicion of running a “Ponzi-like” scheme at a previous pharmaceuticals company, Shkreli claims he is simply misunderstood. He was charged with securities fraud and conspiracy. Shkreli had been seeking FDA approval to raise the price of treatment to between $60,000 and $100,000.
“Anyone want free money? Willing to donate hundreds of thousands to charities before I go to prison…” and numerous unprintable ones accumulated on the page before he regained control and deleted them.
In response to the backlash, Shkreli said that Turing would sell the drugs at a bulk rate to hospital groups and offered financial aid to those who couldn’t afford the drug. Three individuals were named to the company’s board of directors, replacing its prior members, who resigned.
Trading in KaloBios shares was halted on Monday for the third straight session.
Within a day of his arrest Shkreli was regularly spending hours live-streaming mundane aspects of his life on YouTube and posting tweets defending his business practices.
It has been attempting to develop drugs to treat cancer and leukemia. In addition, Mr. Shkreli said he had been targeted by regulars for his much-criticized drug-price hikes and over-the-top public persona.
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Meanwhile, a Twitter account reportedly belonging to Shkreli was apparently hacked over the weekend, displaying a number of tweets unlikely to be helpful to his defense.
