December 18, 2015 at 12:57 pm ET
Turing’s Shkreli Resigns as CEO After Arrest
Martin Shkreli on Friday resigned as the chief executive officer of Turing Pharmaceuticals AG, a day after he was arrested by federal officials on securities fraud charges unrelated to the company.
Ron Tilles, chairman of the company’s board of directors, will serve as interim CEO. Shkreli founded the company this year, and he gained notoriety after raising the price of Daraprim from $13.50 per pill to $750.
“We remain committed to ensuring that all patients have ready and affordable access to Daraprim and Vecamyl,” Tilles said today in a statement. “Research Development on new medications continues to be a priority for the company.”
Turing is one of several drug companies under investigation in both chambers of Congress. Lawmakers said yesterday that his arrest wouldn’t influence their probes.