Martin Shkreli’s drug company has a lot of problems. Revenue was cut in half last year. Losses are mounting. There’s a pile of ongoing civil lawsuits, and the federal government is trying to shut the whole thing down. But the biggest problem might be Shkreli himself, who has been running the firm from federal prison and using it as a financial lifeline for himself and his associates.
Now, a pharmaceutical turnaround artist has teamed up with one of Shkreli’s former acolytes in an effort to finally depose him, recruiting a few industry lifers with a new plan for the former Turing Pharmaceuticals. If they succeed, step one would be undoing the 4,000% price increase on the drug that transformed Shkreli from an anonymous entrepreneur into the reviled “pharma bro.” Then would come the long road back to respectability.