Tag: Martin Shrkeli

Martin Shrkeli’s former drug company goes under
Your take?

Martin Shrkeli’s former drug company goes under

Well, sort of. According to reports, KaloBios Pharmaceuticals has reportedly filed for Chapter 11 bankruptcy listing more than $1.9m in debt and more than $8.1m in assets. Trouble for the company is mounting, considering, Nasdaq informed the company that because of Shrkeli's deceit on the stock market -- they would be delisted come 25 December.
Martin Shrkeli is no longer any kind of pharma CEO
Your take?

Martin Shrkeli is no longer any kind of pharma CEO

And that's at least good news for some. According to several reports, the betrothed  ex-pharma ceo of Turing Pharma (some of which he resigned from Friday) is now no longer working for  KaloBios Pharmaceuticals either. Apparently, Kalobios actually terminated Shrkeli the day of his arrest but never quite announced it to anybody. The decision came after it emerged that Shrkeli had traded stocks illegally on the stock market, and, used funds from one company to pay off another that were earned from the stocks entirely. The company announced Monday that trading had been suspended since last week, and, as of this writing they're unsure when it will resume.  
Martin Shrkeli has spoken on those fraud charges
Hold up..

Martin Shrkeli has spoken on those fraud charges

Martin Shrkeli is on trial for fraud charges on Wall Street, and now, Martin Shrkeli has told the world just how he feels about those charges. According to tweets posted by Shrkeli,  the betrothed pharma exec apparently feels that the accusations are "baseless" and he will "prevail" even in federal court. More information about some of the charges has since been released to the media. Per New York officials,  Shrkeli is charged with fraud and conspiracy to commit fraud from 2009 all the way until 2014. Per Brooklyn court officials, Shrkeli "used a pharma company he acquired to pay back disgruntled hedge fund bosses" that he had pissed off after losing copious amounts of their money in bad trades.  
Martin Shrkeli ‘s Vanity Fair interview is SHOCKING
Your take?

Martin Shrkeli ‘s Vanity Fair interview is SHOCKING

And by shocking, perhaps, we mean everything that goes along with such  a word. In a startling and secret interview with Vanity Fair before his arrest Thursday, America's most hated pharma exec took to the pages of the magazine likening himself to John D Rockefeller and Robin Hood. 'I don't mean to be presumptuous, but I liken myself to the robber barons,' he told Vanity Fair. The interview has people talking. Everything we've done is legal. Rockefeller made no attempt to apologize as long as what he was doing was legal.' It's been a long few weeks for Shrkeli, who, infamously hiked the price of Daraprim from $13.50 to more than $750 per tablet (an essential AIDS drug perhaps). In case it couldn't get any worse,  Shrkeli then bought a prized album from the Wu-Tang clan for more t...
Feds raid Martin Shrkeli ‘s office, drug CEO resigns
Your take?

Feds raid Martin Shrkeli ‘s office, drug CEO resigns

All's well that ends well, er, especially when you're one particular internet villain that nobody truly cares for. Earlier this week, Martin Shrkeli, the infamous Turing CEO who notoriously hikes prices of life-saving drugs was arrested. But unfortunately not for reportedly hiking prices, but, for something much worse. Several reports have uncovered a SEC securities case against Shrkeli in which he is accused of "running a Ponzi scheme" through hedge funds which eventually led into his foray into medicine. According to officials, Shrkeli, is looking at a hefty 20 years if convicted on securities fraud.  As of this writing, it appears that Turing has reportedly hired a new CEO to replace Shrkeli.
Internet Villain Martin Shrkeli is planning to hike the price of another drug
Your take?

Internet Villain Martin Shrkeli is planning to hike the price of another drug

SAO PAOLO -- There's trouble in the world of pharmaceuticals once again, and this time, well, they're all accounted back to none other than Martin Shrkeli. According to the New York Times,  Shrkeli has reportedly purchased rights to a premier drug in Latin America used to treat the often fatal disease known as Chagas. The disease, hasn't widely been seen in Northern America since 1955. However, in Latin America the disease is rather prominent and the drug is beneficial to most. As of now, the drug ranges about $50-$100 to retrieve it, however, Shrkeli reportedly plans to raise the praise to nearly $60,000-$100,000. So what's the master plan? As Reuters uncovered, governments give companies making drugs that specifically treat "parasatic diseases" vouchers. These vouchers can later be...
Celebrity

Pharma Bro now in federal prison

Looks like Martin will be serving out his sentence at a federal prison after all.   Days after his request to serve his 7-year remaining sentence at a low-security prison,    officials have confirmed that his request has been denied.  Martin, per officials in Jersey, will now serve his sentence at Fort Dix Correctional Center. Fort Dix is located about 80 miles out of New York City, and, technically is low-security itself although is a federal prison.      Pretty certain the request, also per officials, was denied because of the fact that Martin was previously declared a public safety threat "after that infamous bounty for a strand of Hillary Clinton 's hair" [no joke]. Meanwhile, his infamous Wu Tang Clan album is now reportedly in the possession of the Department of Justice....
Where’s Martin Shrkeli now?
Your take?

Where’s Martin Shrkeli now?

Living pretty highly off of a secret $45m stash he apparently had hidden away in an E-trade account. According to the New York Times, Shrkeli secured his $5m bail from federal custody from his own investment account. Just, er, how much money he actually has -- largely -- remains a mystery. Via The New York Times.
Skip to content