WASHINGTON (dpa-AFX) - Turing Pharmaceuticals AG said its founder Martin Shkreli has resigned as Chief Executive Officer, just one day after federal authorities charged him of securities fraud scheme.
The company has appointed Chairman Ron Tilles to take over the lead on an interim basis.
The FBI arrested Shkreli on charges of misleading investors by maintaining a Ponzi scheme at hedge funds he formerly led and using of pharmaceutical company Retrophin's stock to settle personal disputes.
'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, Tilles said in a statement issued with the announcement. 'At the same time, I am very excited about the opportunity to guide Turing Pharmaceuticals forward.'
Shkreli had come to limelight couple of months ago when bought the rights and raised the price of Daraprim by 5000% to $750 a pill from $13.50. Daraprim treats a parasitic infection that helps HIV patients, pregnant women and others with weak immune systems.
Copyright RTT News/dpa-AFX
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