Embattled businessman Martin Shkreli has been ousted as CEO of KaloBios Pharmaceuticals (KBIO), the company said Monday, four days after federal authorities accused him of securities fraud involving other firms he controlled.
San Francisco-based KaloBios said Shkreli was "terminated" Dec. 17 — the day federal prosecutors and regulators accused him of defrauding investors in two hedge funds he operated and siphoning funds from a separate pharmaceutical firm to hide the losses.
Shkreli also resigned from the KaloBios board of directors, the company said.
The KaloBios ouster marks the latest setback for the 32-year-old healthcare industry entrepreneur who has drawn widespread criticism for imposing steep price hikes in the cost of drugs controlled by his companies.
