Turing Pharmaceuticals CEO Martin Shkreli, aka Pharma-Bro, was arrested by the FBI on Thursday for securities fraud and on Friday karma gave him a giant dose of f*ck you by causing his stocks to plummet — the result was a loss of $26 million.
Shkreli became known to the world as an unapologetic douchebag who raised the prices on a life-saving AIDS drug by 5,500 percent, earlier this year. He did eventually lower the price of Daraprim for hospitals, but it still costs about $325 per pill, up from its original price of $13.50 per pill. Is he not merciful?!
After he raised the prices on the drug, he invested in another pharmaceuticals company, KaloBios, and became the primary shareholder, CEO, and chairman. He planned to repeat the same price gouging practice that he shot to fame for. When he invested in the company the stock soared 5,000 percent from $.90 to over $30.
Unfortunately, for Pharma Douche, when news of his arrest hit the press, his stocks to a heavy hit. Market Watch reports:
With the stock last changing hands at $11.03 in premarket trade prior to the halt, down $12.87, or 53%, from Wednesday’s closing price of $23.59, Shkreli’s stake was worth $26.7 million less than yesterday.”
The stock is currently halted indefinitely until the company hands over information requested by Nasdaq.
This could not have possibly happened to a more deserving guy. He is the epitome of everything we hate about the one percent — a soulless asshat who care nothing about people and everything about his bank account. Shkreli claimed that he raised the AIDS’ drug prices because his stockholders are far more important than the people who need the medicine to live; so, how perfect is it that stockholders in his other company are suffering because of him? It looks like the best thing this imbecile could do for investors is sell his stocks in the companies who have the misfortune of being owned by him.
Featured image via Twitter