Shkreli Subpoenaed by Congress

Stephen L Kanaval  |

Hipster super-villain, Martin Shkreli, has been summoned to a congressional hearing next Tuesday for excessive increases in the pharmaceutical sector. The House Committee on Oversight and Government Reform are investigating several drug companies over price-gouging. Shkreli was just arrested last month for charges of security fraud, but was released on $5 million bail.

Chairman Jason Chaffetz, a Republican from Utah, issued the summons. Chaffetz as well as Elijah Cummings, a Democrat from Maryland, have tried to obtain information from Turing and Valeant. They were obstructed by Shkreli. Valeant Pharmaceuticals interim CEO, Howard Schiller, will testify in the hearing. Drug price-gouging reached a clamorous fever-pitch when Turing raised the price of Daraprim 5000%. Facing outrage, Shkreli said he would lower the price, but balked. The company only managed to offer patients financial aid to afford the drug treatment.

The House of Representatives made clear to the media and the public that the committee and subpoena were not part of any criminal proceedings. It is unclear if Shkreli will testify. He posted this mocking message to his twitter:




Shkreli also posted a snapshot of the subpoena accompanied with the comment, “Looks important.”

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