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Price-hiking pharma exec Martin Shkreli gets House subpoena

1 year 2 months 6 days ago January 20, 2016 Jan 20, 2016 Wednesday, January 20 2016 January 20, 2016 3:42 PM in News
Source: Associated Press
By: APnewsNow

WASHINGTON - House lawmakers have issued a subpoena to compel former Turing Pharmaceuticals CEO Martin Shkreli, reviled for price-gouging, to appear at a congressional hearing next Tuesday.

An aide to the House Committee on Oversight and Government Reform confirmed the news Wednesday. The committee is investigating several companies for exorbitant drug price increases.

Shkreli became notorious for hiking the price of Daraprim, the only approved drug for a rare and sometimes deadly parasitic infection, by 5,000 percent. Since then, Shkreli has been deluged with criticism from patients, politicians and the media, some calling him the "most hated man in America."

Last month, the 32-year-old former hedge fund manager was arrested in New York and charged with securities fraud and conspiracy. The charges stem from another pharmaceutical company he previously ran called Retrophin.

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