Loathed CEO Martin Shkreli has apparently survived a high-profile Internet shaming and is seeking refuge in the Bay Area. You may recall that Gawker and others called the finance bro turned pharma bro a "villain" after his his startup, Turing Pharmaceuticals, price-gouged Malaria drug Daraprim, a product that leapt 5,000 percent overnight from $13.50 to $750 per tablet.
During the affair, the New York Times also drew attention to a complaint lodged by Shkreli's previous company in Manhattan Federal District Court, which alleged that Shkreli still owes them $25 million in severance.
But never mind all that: Now Shkreli has touched down in San Francisco, where CBS SF and the Huffington Post report that he's purchased something like a 70 percent stake in KaloBios, a publicly traded South San Francisco biotech group. On Twitter, Shkreli announced that he's just become CEO and chairman of the board.
Landing in San Fran soon if anyone wants to hang.— Martin Shkreli (@MartinShkreli) November 23, 2015
Following the initial backlash, it should be noted that Shkreli lowered the price on that Malaria drug, though just for hospitals.
So happy to rescue $KBIO from having to discontinue our promising blood cancer drug lenzilumab. Let's hire the downsized employees back too!— Martin Shkreli (@MartinShkreli) November 20, 2015
KaloBios, which is in clinical trials for two leukemia drugs, was up 800 percent on news of the purchase because ew, and the stock was met with another 100 percent uptick today according to Business Insider. Shkreli told HuffPo that he'd welcome back laid of employees at the struggling KaloBios, as he indicated he would in a tweet.