Martin Shkreli investigated for running pharma company from jail

March 11, 2019

The infamous “Pharma Bro” is in the hot seat again — this time for allegedly involving himself in business dealings from prison with a contraband phone. 

Last week, the Wall Street Journal reported that Martin Shkreli has been discussing business deals and talking with executives from Pheonixus AG, the company he once led (which was previously named Turing Pharmaceuticals).

Shkreli became pharma’s most-loathed CEO in 2015 after Turing raised the price of Daraprim, which is used to prevent infections in HIV or transplant patients and treat toxoplasmosis, by 5,000 percent overnight. In the midst of the backlash, Shkreli was convicted of securities fraud and sentenced to seven years in a prison near Philadelphia. 

The Bureau of Prisons has now launched an investigation into reports of Shkreli conducting business on an illegal phone. If convicted, Shkreli could face another year in prison and a fine. 

Read the full WSJ report.