Lawmakers to hear from ex-pharma CEO Shkreli for hikes in drug prices

Former Turing Pharmaceuticals CEO Martin Shkreli arrives at court in New York, Wednesday, Feb. 3, 2016. Shkreli, who has become the poster child of pharmaceutical-industry greed after hiking the price of an anti-infection drug by more than 5,000 percent, is scheduled to appear at a congressional hearing on Thursday. (AP Photo/Seth Wenig)

WASHINGTON (AP) — U.S. lawmakers are anxious to hear from 32-year-old pharmaceutical chief Martin Shkreli about severe hikes for a drug sold by a company that he acquired.

But it’s unlikely the former CEO of Turing Pharmaceuticals will answer questions in his appearance Thursday before the House Oversight and Government Reform Committee. Shkreli, who has been widely scorned for hiking the price of a long-established and potentially lifesaving drug by more than 5,000 percent, says he’s exercising his Fifth Amendment right against self-incrimination.

Shkreli is facing separate criminal charges of securities fraud related to another drug company.

Also going before lawmakers is the interim CEO of Canada’s largest drugmaker, Valeant Pharmaceuticals. Both companies have bought and sharply raised prices for drugs taken by patients with heart problems, AIDS, cancer and other conditions.

KXAN.com provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Users who violate these terms, including use of vulgar language or racial slurs, will be banned. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s