Shkreli Subpoenaed On Drug Prices, Refuses To Give Up Records
This article was originally published in Scrip
Martin Shkreli, the former hedge-fund manager who recently lost his job as CEO at two drug companies after being arrested on fraud charges, has been subpoenaed by the House Oversight and Government Reform Committee to testify at a Jan. 26 hearing focused on the increases in the prices of older medicines – like the 5,000% spike in the cost for the toxoplasmosis drug Daraprim (pyrimethamine), which is sold by Turing Pharmaceuticals Inc., one of the firms he started and then was booted from.
You may also be interested in...
Daraprim, which saw its price jacked up by 4,000% by former drug company executive Martin Shkreli, now has a competitor with the US Food and Drug Administration’s approval of the first generic version of the nearly seven-decade-old drug used to treat a life-threatening parasitic infection known as toxoplasmosis.
With new funding in hand, Moderna and its infectious disease venture Valera are going full-speed ahead with a Zika vaccine, taking an mRNA approach, which they said could be a more rapid strategy to try to stop the disease.
Allergan CEO Brent Saunders vows not to engage in price gouging and says his firm will limit cost increases to single-digit percentages, occurring only once per year. But it's unclear whether Saunders will stand as a lone wolf in the industry or if others will make similar pledges.