Big pharma head Shkreli won’t answer Congress on 5000% drug price hike

NBC News reports that Shkreli smirked, rolled his eyes and looked away when Ranking Democrat, Rep. Elijah Cummings, D-Maryland tried to appeal to his sense of morality and reflect on his actions.

Shkreli’s former company, Turing acquired exclusive rights of Daraprim which is generic drug used to treat the parasitic infection toxoplasmosis. She said the company invests in research and development, as well as programs that help patients afford drugs.

Martin Shkreli, the former head of a pharmaceutical company that jacked up prices on an AIDS drug, appeared before Congress Thursday.

“He did not intend to show any disrespect, he was listening intently and some of what you saw was nervous energy”, said Shkreli’s attorney, Ben Brafman.

A weird moment took place in Congress today (Feb. 4) during a hearing with controversial pharmaceutical CEO Martin Shkreli.

Minutes after he left – and even before the hearing had ended – Shkreli thumbed his nose at the committee.

Shkreli – who has been indicted on unrelated securities charges and pleaded not guilty – invoked his Fifth Amendment right against self-incrimination and refused to answer questions.

With Shkreli mum, it was up to Turing’s Nancy Retzlaff to defend the Daraprim price rise. After all, Shkreli isn’t under indictment for rising drug prices, Gowdy pointed out.

Democratic presidential candidate Bernie Sanders tweeted: “The American people are fed up with the blatant profiteering of pharmaceutical company CEOs like Martin Shkreli”.

“On advice of counsel, I will not be giving an opening statement”, Shkreli said.

“I am stunned that a conversation about an album he purchased could possibly subject him to incrimination”, Representative Gowdy responded.

“When all of the facts about Daraprim and Turing are ultimately disclosed, I think everyone will recognize that Mr. Shkreli is not a villain”.

“We want to try this case in the courtroom and not in the media”, Brafman said with a silent Shkreli at his side following a pretrial hearing in Brooklyn.

Rep. Trey Gowdy (R-S.C.), a former prosecutor, asked Shkreli if he was pronouncing his name correctly.

“I know you’re smiling, but I’m very serious, sir”.

After failing to answer even a single question, Shkreli was dismissed less than an hour later. “As CFO, I was comfortable with that decision [to raise Daraprim’s listed wholesale price] because of our commitment to give access to the drug to every patient who needs it, regardless of their ability to pay”, she said.

But the gridlocked state of Congress virtually assures federal efforts to lower drug prices will remain in limbo for years.