Page 34 - Martin Shkreli Case Study
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APPENDIX
Appendix 1
TIMELINE
2004 Baruch College New York
internship at Cramer Berkowitz & Co
2008 MSMB founded by Shkreli
2011 MSMB 'virtually bankrupt' after Shkreli made a single trade with Merril
Lynch
2011 Retrophin founded
acquired the rights to sell Thiola
June Shkreli offers to buy SeraCare
2014 September 2014 Retrophin increased the price from $1.50 (£1) per pill
to more than $30 (£20)
2014 October forced out of Retrophin
2015 Turing Pharmaceuticals was launched in February
Retrophin is in the process of suing Shkreli for $65million
August Daraprim bought for $55m
September Daraprim price hike
September Hilary Clinton announces drug price reforms
October moves begin to remove Shkreli from Turing board
October New York Attorney General antitrust bureau investigating
Turing: company might be 'unlawfully' restraining competition.
November Turing said it would cut the price of Daraprim by up to 50%
for some patients.
November Shkreli’s investor group made a 1.2 million share purchase
for a 70% stake in KaloBios Pharmaceuticals Inc.
Shkreli appointed as both CEO and Chairman of KalBios.
th
December 16 Shkreli arrested and charged with securities fraud and
conspiracy and released on a $5 million bond. KaloBios remove him
from the board.
December 17 Shkreli resigns from Turing.
