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Retrophin CEO plans to retire

Retrophin Inc. said Stephen Aselage plans to retire as CEO.

Aselage, who has been CEO since November 2014, will step down after the company identifies his successor.

Retrophin's board has initiated a global search for his successor that will include both internal and external candidates.

San Diego, Calif.-based Retrophin develops treatments for serious or rare diseases. Martin Shkreli, who was convicted of securities fraud in March, is the company's co-founder and former CEO.