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PupCamo

(288 posts)
Thu Mar 7, 2019, 10:01 PM Mar 2019

Martin Shkreli continues to run business from prison, report says

https://www.cnn.com/2019/03/07/business/martin-shkreli-prison/index.html

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 in America, according to a story in the Wall Street Journal. He was convicted of securities fraud and conspiracy in 2017. He has served 16 months of a seven-year sentence in federal prison.
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.
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