Notorious Pharma CEO Is No Longer a Pharma CEO

Martin Shkreli lost his gig at KaloBios Pharmaceuticals, too
By Kate Seamons,  Newser Staff
Posted Dec 21, 2015 10:02 AM CST
Notorious Pharma CEO Is No Longer a Pharma CEO
In this Dec. 17, 2015, file photo, Martin Shkreli is escorted by law enforcement agents in New York.   (AP Photo/Craig Ruttle)

Notorious drug CEO/record-album purchaser Martin Shkreli has lost one of those descriptors. He resigned as CEO of Turing Pharmaceuticals on Friday following his Thursday arrest for alleged securities fraud and conspiracy, and Monday brings the news that he's been terminated as CEO of KaloBios Pharmaceuticals, reports CNBC. Reuters reports the move was effective on the day of Shkreli's arrest, which was also the day the company halted trading; trading has yet to resume. Shkreli has additionally given up his seat on KaloBios' board.

But trading isn't the only thing that's been halted in relation to KaloBios. Bloomberg reports that a clinical leukemia drug trial sponsored by KaloBios has been suspended by the University of California at Davis and Florida's Moffitt Cancer Center. A number of additional institutions had also planned to participate—among them the Mayo Clinic and Weill Cornell Medical College. As of Saturday, they had yet to comment or announce a decision. (More Martin Shkreli stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.