- The Washington Times - Wednesday, January 20, 2016

It wasn’t enough that Martin Shkreli, a former pharmaceutical company CEO, was publicly scorned for raising the price of a lifesaving drug by 5,000 percent or facing criminal charges on allegations of securities fraud.

Now he’s also been subpoenaed to appear before Congress.

An aide to the House Committee on Oversight and Government Reform confirmed Wednesday that the subpoena had been issued. The committee is hosting a hearing Tuesday on “developments in the prescription drug market” and has requested drug pricing documents from several companies, including Mr. Shkreli’s former company, Turing Pharmaceuticals.

“I have been trying for the better part of a year to get information from Martin Shkreli about his outrageous price increases, and he has obstructed our investigation at every turn,” Rep. Elijah E. Cummings, the oversight committee’s top Democrat, said in a statement. “He claims publicly that he wants to explain to Congress how drug pricing works. On Tuesday, he will get his chance.”

Mr. Shkreli stirred public outrage last year when Turing jacked up the price of the drug Daraprim from $13.50 to $750 per pill. The drug is used to treat a rare parasitic infection called toxoplasmosis.

Last month Mr. Shkreli was arrested and charged with securities fraud related to the alleged defrauding of investors at his former hedge fund. He’s since stepped down as the head of Turing and pleaded not guilty to the criminal charges.
Mr. Shkreli, who maintains a lively presence on social media, posted a photo of the subpoena on Twitter.

“House busy whining to healthcare reporters about me appearing for their chit chat next week. Haven’t decided yet. Should I?” he tweeted.

• Andrea Noble can be reached at anoble@washingtontimes.com.

Copyright © 2023 The Washington Times, LLC. Click here for reprint permission.

Please read our comment policy before commenting.

Click to Read More and View Comments

Click to Hide