Cancer drug company owned by 'pharma bro' files for bankruptcy
KaloBios, the troubled drugmaker taken over by Martin Shkreli last month, is seeking bankruptcy protection less than two weeks after his arrest for securities fraud.
It’s the second pharmaceutical company with ties to the former hedge fund manager that’s now in turmoil.
The other, Turing Pharmaceuticals Inc., is cutting jobs and seeking a new CEO after Shkreli resigned the position because of his arrest.
Under Shkreli, Turing acquired the rights to a treatment for a rare parasitic infection that mainly strikes pregnant women and raised the price to $750 per pill from $13.50. That shoved the New York company into the crosshairs of lawmakers under pressure to do something about soaring drug prices.
An investigation by the Senate Special Committee on Aging is now focused on Turing and three other pharmaceutical companies.
No comments:
Post a Comment