Shkreli founded Retrophin in 2011 under the MSMB umbrella and ran it as a portfolio company with an emphasis on biotechnology, to create treatments for rare diseases.
Retrophin's board decided to replace Shkreli in September 2014, and he resigned from the company the following month. He was replaced by Stephen Aselage. During Shkreli's tenure as CEO, the company's employees used alias Twitter accounts to make gangster rap jokes and encourage short selling of other biotech stocks.
After Shkreli's departure, Retrophin filed a US$65 million lawsuit against him in August 2015, claiming that he had breached his duty of loyalty to the biopharmaceutical company in a long-running dispute over his use of company funds and "committed stock-trading irregularities and other violations of securities rules." The lawsuit alleged that Shkreli had threatened and harassed a former MSMB employee and his family.
Shkreli and some of his business associates have been under criminal investigation by the U.S. Attorney for the Eastern District of New York since January 2015. Shkreli invoked his Fifth Amendment right against self-incrimination in order to avoid testifying during civil depositions.
Shkreli's name is on two patents held by Retrophin for drugs to treat PKAN.
In November 2020, Eric Dube, Retrophin's new Chief Executive, announced the company would be rebranded as Travere Therapeutics Inc. in an effort to further distance the company from Shkreli, and said the company is no longer working on treatments for the disease from which the company takes its name.
Highest paying job titles at Retrophin include Director, Talent Acquisition, Quality Assurance Engineer, and International Tax Director