Martin Shkreli, the poster boy for large prescription drug price increases, has stepped down as chief executive of Turing Pharmaceuticals, the company said on Friday, following his arrest for securities fraud earlier this week.
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Shkreli resigned from his position as CEO of Turing Pharmaceuticals on Friday. Alongside 42 year old Evan Greebel, who was Retrophin’s outside counsel, Shkreli is also on charges of deceitfully inducing investors to invest in two separate funds while at the same time embezzling the assets of publicly merchandized Retrophile.
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Be Civil – It’s OK to have a difference in opinion but there’s no need to be a jerk. The publicly traded company ousted him previous year. Tilles will continue to serve as chairman of the board of directors.
Mr Tilles said in a statement: “We wish to thank Martin for helping us build Turing Pharmaceuticals into the dynamic research focused company it is today, and wish him the best in his future endeavors. The allegations against me are baseless and without merit”.
“It was hacked”, Craig Stevens, a spokesman for the former chief executive of Turing Pharmaceuticals, said in an email.
Shkreli, a flagrant self-promoter who recently said he should have hiked the price of anti-parasitic drug Daraprim even more, was paraded in handcuffs by the Federal Bureau of Investigation after his arrest. One tweet asked, receiving some of the highest number of retweets out of the seven released within the span of one hour of each other.
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Combative, often crass and willfully sophomoric, Shkreli has – so far – appeared to revel in being described as a “pharma bro”, the “drug industry’s villain” and far more unprintable terms since his Turing Pharmaceuticals jacked up the price of Daraprim.
