Martin Shkreli Gets Reduced Role in KaloBios

[wsj-responsive-image P="//art.wsj.net/api/photos/38149093/smartcrop?height=499&width=749" J="//art.wsj.net/api/photos/38149093/smartcrop?height=639&width=959" M="//art.wsj.net/api/photos/38149093/smartcrop?height=853&width=1280" caption="Martin Shkreli exits federal court on May 3 in the Brooklyn borough of New York City." credit="Getty Images" placement="Inline" suppressEnlarge="false" ]

KaloBios Pharmaceuticals Inc. reached a deal that would limit former Chief Executive Martin Shkreli’s role at the drug company. Read the Daily Bankruptcy Review article via The Wall Street Journal.

(Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit http://on.wsj.com/DJBankruptcyNews, scroll to the bottom and click “try for free.”)

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Write to Melanie Cohen at [email protected]. Follow her on Twitter at @MelanieLisa