Martin Shkreli's series of bad media exposure has surely taken its toll on his career but it seems it has no plans of slowing down for him. Shkreli has been relieved from his position as chief executive officer at KaloBios, a pharmaceutical company that he had acquired last Nov. 19, 2015.
KaloBios disclosed that Shkreli was voted out of his position on the same day of his arrest for allegedly using the company's money to pay for debts from his previous companies.
Before his termination from KaloBios, Shkreli also resigned from a Chief executive position at Turing Pharmaceuticals, a company which he co-founded last year.
Most onlookers of the Shkreli timeline think that the pharma bro had it coming. Shkreli built a bad name for himself after increasing the price of life-saving drug from $13.50 to $750 after buying the rights to the drugs with his company Turing Pharmaceuticals. The insensitive increase of the prices drove the internet users to bad mouth the pharmaceutical mogul and even got his twitter account hacked. The hacker posted mocking comments on his twitter account relating to his unfavorable decisions in making the AIDS treatment drug financially crippling to regular earners.
Even after the uproar that the price hike he initiated brought, Shkreli went on and bought 70 percent of the shares in KaloBios. Through KaloBios, Shkreli had planned to get a license on the standard treatment for Chagas Disease and reprice it the way he did with Turing Pharmaceuticals.
Ever since Shkreli's arrest, allies and former partners started burning bridges. Bloomberg News reported that two medical centers began to withdraw from conducting trials to a leukemia drug that Shkreli had commissioned them to test.
Turing Pharmaceuticals is elected Ron Tilles as interim chief executive while KaloBios still has no replacement for Shkreli's vacated position.
Shkreli is now out of prison from paying a $5 million bail and strongly denies the allegations to him.
