(Reuters) – Privately held drugmaker Turing Pharmaceuticals Inc is close to replacing Chief Executive Martin Shkreli, the Wall street Journal reported on Friday, a day after the FBI arrested him on charges of securities fraud.
Shkreli is planning to step down from Turing, and it has not yet been decided whether his replacement will serve in an interim or permanent capacity, the report said, citing people familiar with the matter.
Shkreli was charged in a federal indictment on Thursday related to his time managing hedge fund MSMB Capital Management and CEO of biopharmaceutical company Retrophin Inc RTRX.O.
Shkreli, who was released on a $5 million bond, is also CEO of drugmaker KaloBios Pharmaceuticals Inc KBIO.O.
(Reporting by Vidya L Nathan in Bengaluru; Editing by Sriraj Kalluvila)
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