Martin Shkreli resigns from Turing
pharmafile | December 21, 2015 | Appointment | Sales and Marketing | Martin Shkreli, Shkreli, Turing Pharmaceuticals
Following his arrest on securities fraud charges, Martin Shkreli has resigned as chief executive of Turing and been replaced by interim chairman Ron Tiles.
Shkreli was released on bail of $5 million and returned to his Manhattan home on Friday after pleading not guilty to the charges, where he used his Twitter account to thank followers for their support. “Am confident I will prevail. The allegations against me are baseless and without merit,” the 32-year-old Tweeted.
He then used live internet streams to discuss his experience with an audience of around 800. At Friday’s hearing, Shkreli was ordered to hand over his passport, and his travel is believed to be restricted to certain parts of New York.
Turing confirmed that his interim successor Ron Tiles will continue to serve as chairman of the board of directors. Tiles 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.
“At the same time, I am very excited about the opportunity to guide Turing Pharmaceuticals forward. We remain committed to ensuring that all patients have ready and affordable access to Daraprim and Vecamyl. Research and development on new medications continues to be a priority for the company.”
In the first interview since his release, Shkreli told the Wall Street Journal he believed he had been targeted because of the Daraprim price increase. “Trying to find anything we could to stop him, was the attitude of the government…Quite frankly, it was not something I expected, and definitely not something I deserve given the facts,” he said.
It is unclear whether Shkreli will remain as KaloBios chief executive. The company that he took control of last month has so far not commented on the situation, however, it emerged that a clinical trial of the investigational KaloBios leukaemia drug KB003 has been halted by both the University of California at Davis and Moffitt Cancer Center.
A Moffitt spokeswoman said the trial was on hold indefinitely, “pending the outcome of the investigation of KaloBios’ CEO.”
Adding to the ex-Turing executive’s woes, on Sunday, his Twitter account was hacked and Shkreli’s profile name changed to ‘Martin The God’ before a serious of inflammatory comments were posted.
He claimed in the Wall Street Journal interview that his email and mobile phone were also hacked.
UPDATE (14:45): KaloBios, the company Shkreli took control of in November, announced that it had terminated him as chief executive, and that Shkreli has resigned from the board of directors.
Joel Levy
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