Shkreli appeared before the U.S. House Committee on Oversight and Government Reform to face allegations that he and his former company Turing Pharmaceuticals purposely raised the price of their anti-infective drug Daraprim to take advantage of people who depend on the treatment. Rep. Elijah Cummings, D-Md., the top Democrat on the panel, released a series of e-mails from both companies Tuesday, saying they illustrated how the drug price increases were profit-minded from the the start, despite the company’s public comments. Unlike Shkreli, Turing’s chief commercial officer Nancy Retzlaff and Valeant interim CEO Howard Schiller not only attended the hearing, but they also answered questions.
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He went on to launch Turing Pharmaceuticals and made worldwide headlines in September when he hiked up the price of the drug Daraprim by 5,000%.
Members of Congress wrestled with questions about why the prices of some old drugs are rising so fast at a Thursday hearing.
The 32-year-old Shkreli then posted on Twitter this message: “Hard to accept that these imbeciles represent the people in our government”.
He’s been called the most hated man in America for numerous reasons, not least of which was raising the price of a lifesaving medication to a ridiculous cost, but Martin Shkreli may have finally outdone himself.
But to no avail, Shkreli smirked and did not offer a response.
“I can’t really talk to any media representatives, you have to talk to my lawyer”, Shkreli said, hanging up on Duthiers. At one point, they even asked him to pronounce his name properly.
But even if he couldn’t get Shkreli to open up, Cummings couldn’t resist trying to lecture him.
Shkreli said this week he was looking forward to his chance to “insult” Congress. But Thursday, he only did so with his silence and smirks. He also stepped down from Turing and was sacked from KaloBios Pharmaceuticals Inc.
Shkreli’s lawyer advised his client to refuse the questions and later defended his client’s actions.
“I know you are smiling, but I am very serious, sir”, Mr Cummings said.
Only to add moments later as the disgraced executive shrugged his shoulders, laughing: ‘It’s not amusing, Mr. Shkreli’.
“I truly believe – are you listening?”
“I think they invited him just to embarrass him”, he said, comparing his position to that of Robert Duvall’s character in “The Godfather: Part II”.
He’s since become notorious for odd behavior on social media, and for bragging about paying $2 million for a rare Wu Tang Clan album.
– AJ+ (@ajplus) February 4, 2016 I had prior counsel produce a memo on facial expressions during congressional testimony if anyone wants to see it. Interesting precedence.
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And with that, Shkreli was dismissed, and the hearing went on.
