Martin Shkreli Subpoenaed To Testify In Congress, Instead Trolls Twitter

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Martin Shkreli, the former CEO of Turing Pharmaceuticals and KaloBios Pharmaceuticals, was ordered to testify during a hearing on drug pricing by the House Committee on Oversight and Government Reform.

The House Committee served a subpoena to one of Shkreli’s lawyers at Arnold & Porter via e-mail on January 11. The former biotech executive was ordered to appear before the members of the House Committee on Tuesday, January 26.

On Monday, one of the lawyers representing Martin Shkreli informed the federal judge in Brooklyn regarding the decision of his client to replace his entire legal team at Arnold & Porter. He wants a new counsel to represent him the pending federal case against over securities fraud.

In December, federal authorities arrested Shkreli on allegations of securities fraud for five years during his tenure as CEO of Retrophin while also working as hedge fund manager of MSMB Capital and MSMB Healthcare.

It is uncertain if Shkreli would testify at House Committee hearing on drug pricing. There is a possibility that he would assert his Fifth Amendment right to protect himself against self-incrimination.

MJ Henshaw, a spokeswoman for the House Committee said, “We subpoenaed him. The Committee expects him to comply with that subpoena.”

The New York Time tried to obtain Shkreli’s comment on the issue via e-mail. The former biotech executive replied, “I made it clear that you are not to contact me ever again.”

Shkreli posted a message on Twitter indicating that he is still undecided whether he would appear before the House Committee. While we are not legal experts we assume this is NOT a smart legal strategy – it is unclear who is currently the attorney for Mr. Shkreli.


Martin Shkreli was called “greedy” and “bad boy of pharma”

Martin Shkreli gained a despicable reputation after his decision to increase the price of Daraprim by more than 5,000% from $13.50 to $750 a pill. Patients use Daraprim to treat parasitical infections.

The medical community and government officials criticized Shkreli as a “greedy” biotech executive. Some people expressed their outrage on Twitter and called him the “bad boy of pharma.”

Shkreli has the chance to explain drug pricing

Earlier this month, the House Committee sent a letter to Turing Pharmaceuticals and its interim CEO Ron Tilles to provide documents related to Daraprim.

In a statement, Congressman Elijah Cummings, a Democrat from Maryland and a ranking member of the House Committee, said he is looking forward to speaking with Martin Shkreli during the hearing.

“He claims publicly that he wants to explain to Congress how drug pricing works. On Tuesday, he will get his chance,” said Cong. Cummings.

Here is more of the latest from Shkreli via Twitter

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