Martin Shkreli has stepped down as chief executive officer of Turing Pharmaceuticals, a day after his arrest on securities fraud charges.
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Similar sentiments were also shared in Tokyo, with even Prime Minister Shinzo Abe expressing that he “appreciated” the ruling. But South Korean media also started to question Park’s whereabouts on the day of the Sewol ferry sinking in April 2014.
He’s being replaced on an interim basis by Ron Tilles, who has been chairman of Turing’s board of directors since the company was founded late a year ago.
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Tilles also thanked Shkreli “for helping us build Turing Pharmaceuticals into the dynamic research-focused company it is today”, a reference to Shkreli’s after-the-fact claim that he needed to raise Daraprim’s price so much to fund research on other drugs.
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Undeterred, Shkreli launched a new fund – it also collapsed, prosecutors say – and launched himself in 2011 into the pharmaceuticals business as CEO of Retrophin, which also has drawn scrutiny over sharp drug price hikes.
The charges relate to his time at a drug company he previously headed, Retrophin Inc., and a hedge fund, MSMB Capital Management, where he was a fund manager.
United States prosecutors said on Thursday that “Shkreli engaged in multiple schemes to ensnare investors through a web of lies and deceit”.
Shkreli, and his alleged co-conspirator, an attorney who worked with him at Retrophin, face securities fraud and conspiracy charges alleging that they improperly channeled millions in cash and Retrophin stock through sham consulting agreements.
Martin Shkreli has resigned as chief executive of Turing Pharmaceuticals following his arrest on Thursday.
Shkreli became a symbol of Wall Street greed when it was reported in mid September that he had raised the price of Daraprim – a drug used to treat toxoplasmosis, primarily in newborns and HIV patients – from $1,130 to $63,000.
The move provoked nationwide outrage which reverberated from the presidential campaign trail to Capitol Hill.
“Price gouging like this in the specialty drug market is outrageous”, Democratic frontrunner Hillary Clinton said on Twitter, vowing to fight runaway drug prices.
But Capers said whether or not Shkreli raised drug prices to pay back investors was not part of the ongoing investigations and speculations were not allowed until the authorities had finished their work.
In a statement, Turing said the leadership change would have no effect on the availability of Daraprim.
That purchase could mean the album might end up being seized as an asset forfeiture, if it’s determined Shkreli used tainted funds in the process. But they plunged 50 percent Thursday before trading was halted.
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Sanders, who advocates a single payer healthcare system to control drug prices, had refused to accept a donation from Shkreli, instead giving the money to a health clinic in Washington, D.C.
