Former Turing Pharmaceuticals Chief Executive Officer Martin Shkreli invoked his Fifth Amendment right against self-incrimination and declined to answer questions on Thursday from U.S. lawmakers interested in why the company raised the price of a lifesaving medicine by 5,000 percent.
Shkreli, 32, sparked outrage last year among patients, medical societies and Democratic presidential front-runner Hillary Clinton after Turing raised the price of 62-year-old Daraprim to $750 a pill from $13.50.
The medicine, used to treat a parasitic infection, once sold for $1 a pill.
At a hearing of the U.S. House Committee on Oversight and Government Reform, Shkreli sat at a table with arms crossed and repeatedly declined to answer questions about the effects of the price hike on patients.
“I intend to follow the advice of my counsel, not yours,” Shkreli told Rep. Trey Gowdy, a South Carolina Republican.
The Fifth Amendment of the U.S. Constitution says no person shall be compelled in any criminal case “to be a witness against himself.”
Shkreli was arrested in December and charged with running his investment funds and companies almost like a Ponzi scheme. He has pleaded not guilty, stepped down from Turing and was fired from KaloBios Pharmaceuticals Inc.
U.S. Representative Elijah Cummings reprimanded Shkreli for appearing to laugh during the Maryland Democrat’s opening statement. “It’s not funny, Mr. Shkreli,” Cummings said.
Wearing a sports jacket and collared shirt, Shkreli responded to questions by continuing to laugh, twirling a pencil and yawning.
Cummings added a few minutes later: “You can go down as the poster boy for greedy drug company executives, or you can change the system.”
Shkreli was allowed to leave the hearing early after he repeated that he would not answer any questions at all.
Representative John Mica, a Florida Republican, said he would consider asking fellow lawmakers to hold Shkreli in contempt for his behavior.
“I don’t think I’ve ever seen the committee treated with such contempt,” Mica said.
Turing Chief Commercial Officer Nancy Retzlaff told the House hearing that Turing acquired Daraprim because it was “priced far below its market value” and that the company was committed to investing revenue into new treatments.
The Federal Trade Commission and the New York attorney general are investigating Turing for possible antitrust violations.
- Alveda King: Planned Parenthood’s Removal of Margaret Sanger Name ‘Just Window Dressing’
- 'We're gonna kick that b**** out of Congress': GOP candidate who follows QAnon and has a history of racist comments wins Georgia runoff and calls Nancy Pelosi 'anti-American' during victory speech
- Meet the Republicans on the Benghazi Select Committee
- Adhir writes to PM Modi for Kafeel Khan’s release, says ‘Ramraj’ antithetical to injustice
- Protests in the long term: How is a lasting legacy cemented?
- The Hill's Coronavirus Report: Rep. Rodney Davis says most important thing White House can do on COVID-19 is give consistent messaging; US new cases surpass 50k for first time
- Verizon issues furious response to FCC, in Morse code, dated 1934
- Filibuster or bust: How Senate Democrats could get rid of the filibuster
- John Lewis’ Fight Goes On
- Trump's bid for a piece of Microsoft-TikTok deal could spur legal action
- Statehood for Puerto Rico and the obstruction of justice
- Coronavirus talks collapse as negotiators fail to reach deal
- Trump falsely says Biden, a practicing Catholic, is "against God"
- Democrats go big on diversity with new House recruits
- Donald Trump CONGRATULATES QAnon follower who won Republican primary and immediately called Nancy Pelosi a 'b***h' - saying she is a 'real WINNER!'
- Tour de France: Chris Froome gives ‘maximum’ after broken spoke
- If Katie Hill were a man, the US politician's career might have survived a nasty divorce
- More than 500,000 Britons face a scramble to get home amid fears France, Holland, Switzerland, Poland and Malta could all be added to UK's quarantine list
- Delaying the vote, Obama's eulogy, and the view from Portland
- Karen Bass faces searing scrutiny as she emerges as potential Biden VP pick
Martin Shkreli just invoked the Fifth Amendment before Congress have 643 words, post on www.newsweek.com at February 4, 2016. This is cached page on Europe Breaking News. If you want remove this page, please contact us.