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Senior Director, HRIS at Retrophin in San Diego, CA

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compensation:

$200K — $250K *

specialty:

HR Management

experience:

11 - 15 years

Job Description

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Valid through: 12/4/2020

About Retrophin

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., Critics argued that Shkreli was intelligent but too immature and unfocused for the job of CEO. In July 2017, at Shkreli's criminal trial, Aselage testified: "He's a brilliant intellect, visionary.", In May 2014, Shkreli had difficulty accessing public markets for capital, but received a $4 million series A funding round and a PIPE deal valued at $10 million underwritten by Roth Capital Partners. After obtaining the financing, Shkreli was able to acquire rights to market tiopronin , a drug used to treat the rare disease cystinuria, and another drug Chenodal, and subsequently raised the price of each drug substantially, with Thiola being marked up about 20 fold, from $1.50 to $30 per pill , and Chenodal about 5 fold. Retrophin did not lower the price of these drugs after Shkreli's departure., In 2016, Imprimis Pharmaceuticals introduced a lower cost version of Thiola marketed as a compounded drug., Shkreli founded Turing Pharmaceuticals in February 2015, after his departure from Retrophin. He launched Turing with three drugs in development acquired from Retrophin: An intranasal version of ketamine for depression, an intranasal version of oxytocin, and Vecamyl for hypertension. Shkreli set a business strategy for Turing: To obtain licenses on out-of-patent medicines, and reevaluate the pricing of each in pursuit of windfall profits for the new company, without the need to develop and bring its own drugs to market. As markets for out-of-patent drugs are often small, and obtaining regulatory approval to manufacture a generic version is expensive, Turing calculated that with closed distribution for the product and no competition, it could set high prices., On August 10, 2015, in accordance with Shkreli's business plan, Turing acquired Daraprim , a medication approved by the FDA in 1953, from Impax Laboratories for US$55 million. The drug's most prominent use as of late 2015 was as an anti-malarial and an antiparasitic, in conjunction with leucovorin and sulfadiazine, to treat patients with both AIDS-related and AIDS-unrelated toxoplasmosis., The patent for Daraprim had expired, but no generic version was available. The Turing–Impax deal included the condition that Impax remove the drug from regular wholesalers and pharmacies, and so in June 2015, two months before the sale to Turing was announced, Impax switched to tightly controlled distribution. In keeping with its strategy for pricing in the face of limited competition, Turing maintained the closed distribution. The New York Times noted that the deal "made sense only if Turing planned to raise the price of the drug substantially.", On September 17, 2015, Dave Muoio of Healio, an in-depth clinical information website for health care specialists, reported on a letter from the Infectious Diseases Society of America and the HIV Medicine Association to executives at Turing, questioning a new pricing for Daraprim. The price of a dose of the drug in the U.S. market increased by a factor of 56 overnight., The price increase was initially criticized, jointly, by the Infectious Diseases Society of America and the HIV Medicine Association, by the Pharmaceutical Research and Manufacturers of America, and soon thereafter by presidential candidates Hillary Clinton, Bernie Sanders, and Donald Trump., A subsequent organized effort called on Turing to return pricing to pre-September levels and to address several matters relating to the needs of patients, an effort that garnered endorsements from more than 160 medical?specialty and patient?related organizations ., In response to the controversy, the record label Collect Records publicly ended its business relationship with Shkreli, who had invested in the company., In a September 2015 interview with Bloomberg Markets, Shkreli claimed that despite the price increase, patient co-pays would actually be lower, that many patients would get the drug at no cost, that Turing had expanded its free drug program, and that it sold half of its drugs for one dollar. He defended the price hike by saying, "If there was a company that was selling an Aston Martin at the price of a bicycle, and we buy that company and we ask to charge Toyota prices, I don't think that that should be a crime.", A few days later, Shkreli announced that he planned to lower the price by an unspecified amount, "in response to the anger that was felt by people." But in late November, Turing reversed course and said it would not lower the price after all., Following a request by Senator Bernie Sanders and Representative Elijah Cummings for details of Turing Pharmaceuticals' finances and price-setting practices in September 2015, the company hired four lobbyists from Buchanan, Ingersoll & Rooney wi
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Total Jobs:
7
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Total Experts:
1
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Average Pay:
$169,166
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Total value of jobs:
$2,030,000
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% Masters:
47%
Learn More About Retrophin view all icon
* Ladders Estimates

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