It Keeps Getting Worse For Price Gouging Pharma CEO

Second Nexus

[DIGEST: New York Times, Huffington Post]

Much-reviled pharma-CEO, Martin Shkreli, has been ousted from his position as chief executive of Turing Pharmaceuticals, according to the New York Times. A Turing spokesperson acknowledged Shkreli’s resignation following his arrest, after being charged with securities fraud and conspiracy.

Prosecutors case again Shkreli Credit: Source.

Prosecutors case again Shkreli Credit: Source.

Turing is a privately-held company. Its current chairman, Mr. Ron Tilles, will step in as interim chief executive. Tilles has held the chairmanship of Turing’s board since the company was founded late last year, and he is expected to continue in that position. In the company’s statement, Tilles said he’s excited by the chance to guide Turing and that the company is “committed to ensuring that all patients have ready and affordable access to Daraprim”–a life-saving drug that Shkreli also recently raised the price on dramatically after his company acquired the U.S. rights to it. Tilles and Shkreli co-founded Retrophin, the pharmaceutical company notorious for raising prices on an important HIV/AIDS drug. That move caused Shkreli’s ouster at Retrophin and earned Shkreli the title of “most hated man in America,” based on headlines at the time.

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Shkreli’s indictment courtroom sketch on Dec. 17, 2015. Credit: Source.

Shkreli’s rapid downfall has delighted many, who were appalled by his unapologetic stance, according to the Huffington Post. The 32-year-old former hedge fund manager had recently shocked the public again

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It Keeps Getting Worse For Price Gouging Pharma CEO

by Jay Kuo time to read: 2 min
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