Former pharmaceutical executive Martin Shkreli – who has been highly criticized for raising the price of a life-saving drug by 5,000 percent – opted to plead the Fifth Amendment Thursday after being subpoenaed by the House Committee on Oversight and Government Reform in January.
Shkreli, who has been called “the most hated man in America,” smirked before lawmakers who were not amused by his antics.
When pressed by several members of the committee, the usually-outspoken former CEO of Turing Pharmaceuticals repeatedly said: “I intend to follow the advice of my counsel, not yours.”
As he sat at the witness panel, lawmakers blasted Shkreli on his actions, to which he appeared to be unfazed by their disgust.
“Drug company executives are lining their pockets at the expense of some of the most vulnerable families in our nation,” Maryland Democrat Rep. Elijah Cummings said. “It’s not funny, Mr. Shkreli. People are dying and they’re getting sicker and sicker.”
Outside of answering how to properly pronounce his name, the “pharma bro” continued to rebuff questions, even when asked by Rep. Trey Gowdy about the $2 million single edition Wu Tang clan album the controversial entrepreneur was widely mocked for purchasing. The South Carolina Republican said he was “stunned” he would not respond to his inquiry on the album.
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“My constituents. They don’t buy Wu-Tang Clan albums,” Cummings said. “They live paycheck to paycheck.”
Following the hearing, Shkreli became more vocal on social media – mocking the lawmakers attempts to gain information on the issue.
Hard to accept that these imbeciles represent the people in our government.
— Martin Shkreli (@MartinShkreli) February 4, 2016
I had prior counsel produce a memo on facial expressions during congressional testimony if anyone wants to see it. Interesting precedence.
— Martin Shkreli (@MartinShkreli) February 4, 2016
The controversial “pharma bro” said in September the steep price markup of Daraprim, a drug used to treat AIDS, was “not excessive at all” and wished he had increased prices more.
Shkreli was arrested on securities fraud charges in December for allegedly participating in a Ponzi-like scheme at his former hedge fund to which he has plead not guilty.
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