After the arrest of its CEO, Martin Shkreli, on securities fraud charges, Turing Pharmaceuticals has announced Shkreli’s resignation and the appointment of Ron Tilles as Interim CEO. Tilles has chaired Turing’s board of directors since the company’s inception.
Turing launched in 2014 after Shkreli’s former employer Retrophin ousted him over alleged stock trading irregularities and divested its intranasal oxytocin and ketamine products to Turing. In a $65 million lawsuit filed against Shkreli in August 2015, Retrophin named Tilles as a “close personal associate” of Shkreli’s who was involved in some of those stock trades.
Commenting on his appointment as Interim CEO, Tilles said, “We wish to thank Martin for helping us build Turing Pharmaceuticals into the dynamic research focused company it is today, and wish him the best in his future endeavors. At the same time, I am very excited about the opportunity to guide Turing Pharmaceuticals forward. We remain committed to ensuring that all patients have ready and affordable access to Daraprim and Vecamyl. Research Development on new medications continues to be a priority for the company. With the dynamic leadership of Eliseo Salinas as head of Research and Development and Nancy Retzlaff as head of Commercial Operations, Turing Pharmaceuticals is poised for great success in the coming years.”
Read the Turing Pharma press release.
