KaloBios distances itself from ‘pharma bro’ ex-CEO Martin Shkreli

In what’s clearly a move to distance itself from its former CEO, a Brisbane biotechnology company previously led by Martin Shkreli unveiled a pledge Monday not to engage in “price gouging” and committed to being more transparent about its costs.

KaloBios Pharmaceuticals, which is developing drugs to treat cancer and a parasitic infection known as Chagas disease, filed for bankruptcy in late December after Shkreli was arrested on securities fraud charges.

Shkreli, a former hedge fund manager, became infamous last year when he was also serving as chief executive officer of Turing Pharmaceuticals.

“Our new pricing model is a commitment to define and develop transparent, responsible pricing for the products we hope to bring to patients in the future,” said Dr. Cameron Durrant, KaloBios’ new chairman and chief executive officer, in a statement.

Ramón Castellblanch, professor of health education at San Francisco State University and a visiting scholar at UC Berkeley’s Institute for Research on Labor and Employment, said the company’s pledge is “all just talk” unless real action is taken.