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Karma strikes again: Pharma company with ties to Martin Shkreli files for bankruptcy

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Martin Shkreli, the price-gouging pharmaceuticals CEO everyone loves to hate, may be the opposite of King Midas: Everything he touches shrivels and dies. A drugmaker that Shkreli recently took over has now filed for bankruptcy. Shkreli was elected chairman of the board and chief executive officer of KaloBios Pharmaceuticals, which produces benzidazole, in mid-November. Three weeks later, he bought a majority share in the company, allowing him to apply for exclusive selling rights to the drug. KaloBios is not the only company in turmoil thanks to having Shkreli at its helm. Turing Pharmaceuticals named Ron Tilles, the chairman of its board of directors, as the interim CEO after Shkreli resigned from the position on December 19, two days after his arrest. KaleBios had fired Shkreli after the charges were filed.
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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.

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