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U.S. NEWSFriday 5 February 2016
Drug exec takes the Fifth on

Capitol Hill, angers lawmakers

Former Turing Pharmaceuticals CEO Martin Shkreli, center, lis- MARCY GORDON The brash, 32-year-old en- invoke my Fifth Amend-
tens as his lawyer Benjamin Brafman, left, speaks to reporters as AP Business Writer trepreneur who has been ment privilege against self-
they leave court in New York, Wednesday, Feb. 3, 2016. Shkreli, WASHINGTON (AP) — In- vilified as the new face of incrimination and respect-
who has become the poster child of pharmaceutical-industry furiating members of Con- pharmaceutical-industry fully decline to answer your
greed after hiking the price of an anti-infection drug by more gress, a smirking Martin greed was summoned by question.”
than 5,000 percent, is scheduled to appear at a congressional Shkreli took the Fifth at a the House Oversight and Lawmakers erupted. Rep.
hearing on Thursday. Capitol Hill hearing Thurs- Government Reform Com- Elijah Cummings of Mary-
Associated Press day when asked about his mittee, which is investigat- land, the top Democrat on
jacking up of drug prices, ing soaring prices for criti- the committee, all but told
then promptly went on cal medicines. Shkreli to wipe the smile off
Twitter and insulted his Four times, he intoned: “On his face. “I call this money
questioners as “imbeciles.” the advice of counsel, I blood money ... coming
out of the pockets of hard-
working Americans,” he
said as Shkreli sat through
the lecture.
“I know you are smiling, but
I am very serious, sir,” Cum-
mings said. “I truly believe
you can become a force
of tremendous good. All I
ask is that you reflect on it.
No, I don’t ask, I beg that
you reflect on it. “ The for-
mer hedge fund manager
with a frat-boy swagger
has been reviled in recent
months for buying Da-
raprim, the only approved
drug for a rare and some-
times deadly parasitic in-
fection, and unapologeti-
cally raising its price more
than fiftyfold.
Shkreli is out on $5 million
bail after being arrested
in New York in December
on securities-fraud charg-
es unrelated to the price
increase. Shkreli, wearing
a sport jacket and open-
collar shirt, was dismissed
less than an hour into
the hearing, but not be-
fore chairman Rep. Jason
Chaffetz, R-Utah, shouted
down a request by Shkreli’s
attorney to speak. Law-
makers instead took turns
denouncing his conduct
and attitude. Minutes after
he left — and even before
the hearing had ended —
Shkreli thumbed his nose at
the committee.
“Hard to accept that
these imbeciles represent
the people in our govern-
ment,” the former CEO of
Turing Pharmaceuticals
tweeted.
Shkreli’s attorney Benjamin
Brafman later said in his
defense: “He meant no dis-
respect, but in truth, state-
ments made by some of
the members of the com-
mittee were wrong, unfair
and difficult to listen to
without responding.”q