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takyon [soylentnews.org] writes:

+career and education

Martin Shkreli continues to run business from prison, report says [cnn.com]

Martin Shkreli reportedly runs his pharmaceutical company from prison on a contraband smartphone. Shkreli continues to run the remains of the drug company that once earned him the title of most hated man [bbc.com] in America, according to a story in the Wall Street Journal [wsj.com]. He was convicted of securities fraud and conspiracy [cnn.com] in 2017. He has served 16 months of a seven-year sentence in federal prison [cnn.com].

Shkreli is reportedly running Phoenixus AG, formerly known as Turing Pharmaceuticals. In 2015, when Shkreli was the CEO, Turing raised the price of the lifesaving drug Daraprim used by AIDS patients from $13.50 a pill to $750 a pill. The price hike sparked a public outcry.

The Journal says that Shkreli anticipates the company will grow more successful while he's in prison. He believes the company, of which he owns 40%, could be worth $3.7 billion by the time he gets out of prison.

On one recent phone call, Shkreli fired Phoenixus CEO Kevin Mulleady, the Journal reported. Shkreli reportedly later changed his mind, agreeing to suspend Mulleady rather than fire him.

Cartoon villain performance art.

Previously: Martin Shkreli Points Fingers at Other Pharmaceutical Companies [soylentnews.org]
Martin Shkreli Convicted of Securities Fraud Charges, Optimistic About Sentencing [soylentnews.org]
Martin Shkreli Lists Unreleased Wu-Tang Clan Album on eBay [soylentnews.org]
Martin Shkreli's $5 Million Bail Revoked for Facebook Post Seeking Hillary Clinton's Hair [soylentnews.org]
Sobbing Martin Shkreli Sentenced to 7 Years in Prison for Defrauding Investors [soylentnews.org]

Related: Drug Firm Offers $1 Version of $750 Turing Pharmaceuticals Pill [soylentnews.org]
Mylan Overcharged U.S. Government on EpiPens [soylentnews.org]
EpiPen Maker is Facing Shareholder Backlash [soylentnews.org]
FDA Has Named Names of Pharma Companies Blocking Cheaper Generics [Updated] [soylentnews.org]
U.S. Hospitals Band Together to Form Civica Rx, a Non-Profit Pharmaceutical Company [soylentnews.org]

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