Life's A Musical For Martin Shkreli
The absurdity that's surrounded former drug company CEO Martin Shkreli, who has been indicted on eight federal charges, including securities fraud, has been made into a New York musical – really!
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The rare disease-focused firm will pay $90m up front to acquire Orphan Technologies and its Phase I/II enzyme replacement therapy for homocystinuria. Earnouts up to $427m are possible as well.
Fosmetpantotenate missed all endpoints in a Phase III trial, so Retrophin will shelve the candidate for the rare disease PKAN. Now, the biotech turns focus to Phase III sparsentan in a pair of indications.
Prosecutors unsealed an additional charge of conspiracy to commit securities fraud against Martin Shkreli – infamously known for hiking up the price of a toxoplasmosis medicine by 5,000% – bringing the total number of criminal counts against the former drug company CEO to eight.