Arrested by the FBI on federal charges. And reading the charges themselves, a reasonably classic tale.
No idea whether they’re true or not, they’re only charges.
Not unusual: someone goes deep in the hole and they concoct ever more extravagant plans for Hail Mary passes to get them out of it. And that KaloBios one, on paper and in the short term, did manage that. But it’s unlikely to persist given these charges: it’ll take some time either way on federal charges and the stock won’t stay elevated while it all works out.
Don’t admire or condone Shkreli, but got to admit that the exploitation of the bureaucracy was clever. And it really was exploitation: if the FDA wasn’t such a cockheaded organisation there never would be the arbitrage on getting the priority review voucher.
Shit, if it was just a competent bureaucracy then there wouldn’t be that arbitrage.
And the strange thing is, if it were done by someone not likely to face charges on earlier issues, it’s an arbitrage that not only would work but would return very large profits, 5x to 10x in fact.
The lesson of which is burn down the FDA, obviously.