Committee Chairman Jason Chaffetz, a Utah Republican, asked Shkreli if he would admit he was wrong if asked by someone living with AIDS who relied on the drug Daraprim, according to Reuters.
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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. What do you say to her when she has to make that choice?
Bejnamin Brafman, Shkreli’s lawyer, defended his client and said that he never meant to be disrespectful and attributed Shkreli’s smirks and fidgeting as “nervous energy”.
“I intend to follow the advice of my counsel, not yours”, Shkreli told the House Oversight and Government Reform Committee as its members begged him to answer anything.
“I know you are smiling, but I am very serious, sir”, Cummings said.
Shkreli is typically outspoken, a personality feature that has earned him the nickname “Pharmo Bro”, so remaining silent during the hearing was an unusual display of restraint. To the consternation of lawmakers, Shkreli invoked a U.S. Constitutional clause to avoid self-incrimination called the 5th amendment privilege.Shkreli resigned as CEO of Turing Pharmaceuticals in December, after being arrested and charged with running his former companies like Ponzi schemes, but he denies the securities fraud allegations. “It’s not amusing, Mr. Shkreli”.
He was subpoenaed to testify before Congress on Thursday, but the only question he answered was how to pronounce his name.
After the other witnesses, including two pharmaceutical officials and one from Shkreli’s former company, testified about their company programs to help patients afford expensive drugs, Chaffetz turned to Shkreli and noted that Shkreli hadn’t submitted any written testimony. “I find it repulsive what’ve you done”. “But the difference now is that we’ve seen behind their smoke screen”, Representative Elijah Cummings of Maryland said.
He has come under huge scrutiny since the end of 2015 when it became apparent that the young executive had purchased the rights to Daraprim, a medication used to treat a rare and often deadly parasite, and increased its price more than fifty times.
“I was having this image of a middle school teacher scolding a young student for acting like a jerk in class”, Plante said, explaining it is diagnose from afar but says Shkreli may have personality issues. “You can look away if you like but I wish you could see the faces of these people… who can’t get access to these drugs”.
Shkreli is no stranger to hate, but it appears he continues to draw more.
“It’s pathetic that they need me for publicity”, he said.
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Shkreli’s smirks have captured the news, but despite his stony silence, dialogue did occur at the hearing today.
