Martin Shkreli: The most hated man in America quits as Turing CEO [Update]

Martin Shkreli, known as the guy who jacked up the price of a drug used to treat AIDS patients, has stepped down as CEO of Turing Pharmaceuticals.

Pharmaceutical CEO Martin Shkreli, known as the guy who jacked up the price of a drug used to treat AIDS patients, has stepped down as CEO of Turing Pharmaceuticals.

Shkreli who is currently facing federal criminal charges was arrested Thursday at his home in New York.

Turing announced Friday that its chairman Ron Tilles will take over as CEO on an interim basis. Tilles thanked Shkreli in a statement and added that the company wishes him "the best in his future endeavors."

CNN reported that before Turing announced Shkreli's resignation. the company said in a statement Thursday that Shkreli's legal matters "are personal and have no bearing" on the company.

 

"We maintain our deep commitment to patients, providers, and the progress of our important R&D pipeline," Turing added.

It's also not certain what will happen to Turing and the other company that Shkreli ran, a publicly traded firm called KaloBios.

The feds are going after Shkreli for things he allegedly did at Retrophin (RTRX), a biotech he founded in 2011 and was fired from last year. CNN Money reported.

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