Former Drug CEO Shkreli Subpoenaed to Appear Before Congress
- House Oversight Committee sent subpoena to Shkreli last week
- Valeant interim chief Schiller will testify, company says
Martin Shkreli, chief executive officer of Turing Pharmaceuticals LLC, center, and attorney Evan Greebel, left, exit federal court in New York, U.S., on Thursday, Dec. 17, 2015. Shkreli was arrested on alleged securities fraud related to Retrophin Inc., a biotech firm he founded in 2011. Greebel is accused of conspiring with Shkreli in part of the scheme.
Photographer: John Taggart/BloombergMartin Shkreli, the former drug company CEO charged with securities fraud, has been subpoenaed by a U.S. congressional committee investigating the price of drugs.
The House Committee on Oversight and Government Reform is holding a Jan. 26 hearing on “developments in the prescription drug market,” and has asked for documents about how treatments are priced from several companies, including Valeant Pharmaceuticals International Inc. and Turing Pharmaceuticals AG, Shkreli’s former company. Turing rose to notoriety last year after it acquired a decades-old anti-parasitic treatment and overnight raised the price to $750 a pill from $13.50.