Lawmakers reschedule hearing to grill Martin Shkreli
Lawmakers on Capitol Hill have rescheduled a hearing to grill former Turing Pharmaceuticals CEO Martin Shkreli for February 4.
Originally scheduled for this week, but cancelled due to the snowstorm, the hearing will allow lawmakers on the House Oversight and Government Reform Committee to question Shkreli about his decision last summer to raise the price of a life-saving drug by 5,000 percent.
He raised the price of a drug called Daraprim, which is the only approved drug for a rare and sometimes deadly parasitic infection, from $13.50 to $750. The dramatic hike sparked protests from patients, lawmakers and people across the medical community.
In an unrelated case, Shkreli, 32, was arrested and charged in December with securities fraud and conspiracy relating to Retrophin, the biopharmaceutical company he previously ran. The former hedge fund manager pleaded guilty and was released on $5 million bail. At that point, he resigned as CEO of Turing.
Shkreli was subpoenaed last week by the House Oversight panel to appear before lawmakers.
Other people testifying at next week's hearing include another executive at Turing, an executive at Valeant Pharmaceuticals International, the head of the Pharmaceutical Care Management Association and an official at the U.S. Food and Drug Administration.
