Shkreli, widely scorned for hiking the price of a long-established and potentially lifesaving drug, exercised his fifth amendment right against self-incrimination when he went before the House oversight and government reform committee.
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Later, Chairman Rep. Jason Chaffetz refused to allow Shkreli’s attorney, Ben Brafman, to speak, and then summarily dismissed Shkreli from the room altogether.
“Drug company executives are lining their pockets at the expense of some of the most vulnerable families in our nation”, said Maryland Democratic Congressman Elijah Cummings.
Even with major changes to programs like Medicare, analysts say there would still be little to stop companies from hiking prices of drugs when they are the sole provider, as in the case of Turing and Valeant.
“Pharma bro” Martin Shkreli – widely reviled for astronomically jacking up prescription medication for HIV and cancer sufferers – continued to annoy as he remained silent at a USA congressional hearing on pill pricing. “Under the House rules, you have not been sworn in”, Chaffetz said, telling him to sit down.
When pressed for answers on price gouging during the hearing, he repeatedly said: “I intend to follow the advice of my counsel, not yours” while smirking at members of Congress.
Citing the Fifth Amendment became his go-to answer as members of the committee began to prod and poke him, trying to get him to talk about his various luxurious proclivities while he was head honcho of Turing Pharmaceuticals.
When Shkreli replied, “Yes sir”, Gowdy said: “See there! I truly believe you can be a tremendous force for good”, CNBC reported.
Shkreli also appeared in federal court yesterday for securities fraud allegations. Not all of your answers are going to subject you to incrimination you understand that, don’t you?
After South Carolina Republican Rep. Trey Gowdy suggested he could answer non-incriminating questions, like how to spell his name, Shkreli declined. The move appeared to be an especially tactless move and drew attention from all quarters. And what about that Wu-Tang Clan album you bought for million, Gowdy asked him?
Brafman expressed regret over his client’s tweet and just attributed it to Shkreli’s youth and inexperience.
Shkreli didn’t repsond to Rep. Cummings but was decidedly more vocal when not under oath, tweeting after the hearing: “Hard to accept that these imbeciles represent the people in our government”.
Representative Cummings did not like how the executive reacted, saying, “It’s not amusing, Mr. Shkreli”. Even a few members of the House panel were swept up in the curiosity and snapped Shkreli’s photo on their cellphones.
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“I would have told the people of Turing, ‘You want to do a price increase, do it gradually, ‘” Brafman said.
