Some are calling it the most disrespectful appearance before the American government in history.
Infuriating members of Congress, a smirking Martin Shkreli, former CEO of Turing Pharmaceuticals, invoked his Fifth Amendment rights at a Capitol Hill hearing Thursday when asked about his jacking up of drug prices.
His flippant behavior disgusted observers on both sides of the political aisle. Shkreli then promptly went on Twitter and insulted his questioners as “imbeciles.”
The brash, 32-year-old entrepreneur who has been vilified as the new face of pharmaceutical-industry greed was summoned by the House Oversight and Government Reform Committee, which is investigating soaring prices for critical medicines.
Four times, he intoned: “On the advice of counsel, I invoke my Fifth Amendment privilege against self-incrimination and respectfully decline to answer your question.”
Lawmakers erupted. Rep. Elijah Cummings of Maryland, the top Democrat on the committee, all but told Shkreli to wipe the smile off his face.
“I call this money blood money … coming out of the pockets of hardworking Americans,” he said as Shkreli sat through the lecture.
“I know you are smiling, but I am very serious, sir,” Cummings 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. ”
You can see the video of Shkreli’s appearance here —
The former hedge fund manager with a frat-boy swagger has been reviled in recent months for buying Daraprim, the only approved drug for a rare and sometimes deadly parasitic infection, and unapologetically raising its price more than fiftyfold.
Shkreli is out on $5 million bail after being arrested in New York in December on securities fraud charges 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 before chairman Rep. Jason Chaffetz, R-Utah, shouted down a request by Shkreli’s attorney to speak. Lawmakers 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 government,” the former CEO tweeted.
Shkreli calls himself “the world’s most eligible bachelor” and “the most successful Albanian to ever walk the face of this Earth.” He strums his guitar on YouTube and paid a reported $2 million for the only known copy of an album by the Wu-Tang Clan.
After Shkreli’s departure, Turing’s chief commercial officer and the interim CEO of Canada’s largest drugmaker, Valeant Pharmaceuticals, received a bipartisan lashing from the lawmakers.
Internal documents released by the committee show that Valeant and Turing have made a practice of buying and then dramatically raising prices for low-cost drugs given to patients with life-threatening conditions such as heart disease, AIDS and cancer.
Chaffetz, an admitted “conservative guy” who accepts that companies need to make profits, said he was disgusted. And Rep. Carolyn Maloney, D-N.Y., told them: “This is a scandal, an absolute abuse of power, an abuse of the pharmaceutical industry.”
As early as last May, Turing planned to turn Daraprim into a $200-million-a-year drug by dramatically increasing its price, according to documents obtained by the committee. Turing bought the 60-year-old drug in August for $55 million.
Shkreli said in an email to one contact: “We raised the price from $1,700 per bottle to $75,000. Should be a very handsome investment for all of us.”
As for Valeant, documents indicate the company believed it could repeatedly raise the prices of the lifesaving heart drugs Nitropress and Isuprel without repercussions because the medicines are administered by hospitals, which are less price-sensitive than consumers.
The Associated Press contributed to this article.
A picture of a selfish, uncaring generation that thinks that being social is texting twice a day.
Could be or as I suspect he is a Leftist plant of this communist regime to make executives look badly; just as BJ was given millions for his change over to promote these Satanists agenda! These bastards are evil as hell and that is where they are headed if they don’t change their ways. AMERIKA has been “TRANSFORMED” into modern day Babylon. I just had seen on FOX FAKERS that they are already promoting the debauched “Stupor Bowl” ads and one of them has a “Hollow-wood” actor – [DeVane] doing his Monroe impersonation! The sheeple will tune in to this devilish chicanery lap it up to no end! R.I.P. USA, it has gone over to Satan and it will pay the consequences with their freedom – guaranteed!
I think he should be SHOT in front of all !! An egotistical , selfish BASTURD !! Check him out ,He probably is connected to ISIS also ? This is what our society has become !!
The spoil. Little weasel needs to have his ass kicked and his money sucking attorney should be dis bared by the congress! What a upstart little bastardi!
We need the enforcer
The good old American free market system that he is taking advantage of can be his undoing. Replicate those name brand drugs in generic form and charge next to nothing if not give them out free. It would take no time at all for his investors and customers to abandon him and leave him holding the bag for all the money invested or borrowed. He will be a pauper in no time at all. God bless the USA and it’s free market system. The design is flawless when used intelligently.
“Hard to accept that these imbeciles represent the people in our government.
He was right on this part as they are just what he said.
I guess I was little late on my comment, but if I got to wait for some moderator to approve something then I won’t be back..
This is the result of behind locked doors agreements between obama,his flunkies, and the chemical companies with their partners the insurance companies.
This is the “WONDERFUL HEALTH CARE” the commie democrats forced on us.
Judy, you are right!!!!!!!
Mr. Squirrely is a SOUL LESS Non-Human Parasite that should be eradicated with the very Pharmaceutical that he denies the poor and dying.
main street that’s not quite true but think on this big pharma pays the FDA to keep them honest and to make sure that their new drugs are “”safe “” for us to use !! now that is more than scary and never should have been set up that way!! yes they should be charged for the service of the FDA but it should be the government collecting that fee and the FDA should not be afraid too do their task nor should they be the puppet mouth pieces for big pharma banning any thing that cuts into big pharma’s pocket by not being man made but natural and better !!!
He is being a selfish money hungry individual, but I think he was spot on with his comments about the American people being led by imbeciles, who have probably taken more money from the drug lobby to support drug laws that cost Americans a lot of money.
Spot on!
Glenn, You are right, also
He is clearly a smug “me, myself, and I” person who doesn’t give a rip about regular people. SHAMEFUL !!! May he rot!!
Karrie — our government has been ripping us off for years, a lot worse than this clown. There are known cures out there for almost every disease known to mankind but the gov’t, big pharmacy and doctors hide that fact so they can make their billions. This clown is just doing what our govt has been doing for many many tears.
And, do not tell me that this Congress and Senate do not KNOW of ways to bring him down. He needs to be brought down but if our government does not do it, perhaps a higher power will let karma come around to this scum bag in the form of CANCER. Of course, he could afford his own medication. God will punish this man for certain.
AMEN, TO THIS STATEMENT!!!!!!!!!!!
Your right Gerry ! BUT why then do WE the people KEEP putting these ASSHOLES back in ?? WE are DUMBER than DIRT !! Just like “WE” (not me) put OBAMA in for 8 years !! “WE” are getting what every FOOL in America wants- A ROYAL REAMING !! IF it don’t personally effect “YOU” they go along with what these BLOOD SUCKING POLITICIANS DO !!
you did not state that correctly !! you should have said “” there are natural medicines that cost less than the cheapest man made drug that the big pharma’s won’t let us hear about as they can not patent them so they are not able to take us to the cleaners ” !! I can name many that will cure cancer , fungal infections , mrsa , staph and more they can turn around high cholesterol , high blood sugar , and blood pressure !! but to name these organic oils and claim that they can do anything medical ( even when backed by research from many countries ) and you get a visit from the big pharma’s hip-pocket guard dog the FDA!! it’s time for quiet a few changes in how the government runs this is the year to take back our country under the constitution of the people for the people by the people !! VOTE !!!!!!
Dear trumpet blast, I would like to hear of a few of these treatments and cures. Where can I find ?
You are observing what has become of our NOW society. It is all about me, me, me. They feel no responsibility, have no humility, and parents of today along with marketing and government share the blame for it.
Ron, they also have no perception of the value or sanctity of human life.
The previous generation created this messed up attitude. Many of these kids were raised by corporate day care. They were treated like a dirty shirt, in by 8 out by 5 in the day care. Economics is a part of this too. Either way, it’s sad.
main street no the previous generation was not at fault it goes back a lot further than that it goes back to the peace nicks ,flower-children and some direct miss-teaching in the colleges of the 50s and 60s ( that continues today in lower schools ) as German natzi train educators immigrated here after WWII and received jobs teaching our youth and they taught socialism and they passed it on down until we have this mess now!!! you doubt me ?? if your old enough think back to the preWWI era did anyone in great numbers refuse to join the military ?? or was it only around the time of the free love hippie era?? that this started to happen ?? after the teenagers fresh from high school stated to go to college and began hearing how things should not be fought for but given for free !!did not most of them come from Berkly ??
Wonder how it feels when the karma comes around and he learns he is a hated man.
I’m sure he really could care less.
The way he holds himself you are 100% correct.
good for that little twerp its his product he can charge what he wants to–the oil and gas co’s have been ripping off america for years, all drug companies are thieves, hospitals are thieves, if i were him i’d raise the price to 10,000 dollars a pill, he owes no debt to humanity–we could cure cancer and dozens of other illnesses but we don’t, theres no money in the cure –only in the treatment to suck everyone dry. all should look at him and look in the mirror none are any better than him most are worse–so my words to the little rich jew boy-f–k’em , and f–k’em deep.
Don’t the drug companies tell the law makers what to do with the drug companies $$$$$$$$$$$ So isn’t that coloring the kettle black??????????In your face Law Makers.
They are all money $$$$$$$$$$$$ hungry? Consumers are the losers, Law makers are paid very well to do as Drug companies say. They pull the strings, Puppets.
It’s like the magician trying to disappear an elephant with a cloth that isn’t big enough to hide a squirrel. They just couldn’t look the other way hard enough.
This bum is not a “jew boy” as you indicate. He is Albanian…..that means most probably MUSLIM!!!! Now do you get the picture?>
you are right …. he stated it loudly and proudly, proclaiming himself the most eligible albanian out there !!!!!!
You are on the sadistic side – are you related?
what’s the matter … didn’t think your first stupid comment got posted so you had to try and get attention by putting it out there, stupidly, a second time …. the little dick stated that he is albanian, so he was bragging about it, and YOU have to come up with a comment like that ??? whatsa matta wif you ??? you ignored as a baby ???? or are you hoping that albania’s most eligible male will see your post and look you up for some ‘sadistic fun’ ???
You are on the sadistic side – are you related to him?
You are on the sadistic side – are you related to him?
You are on the sadistic side – are you related to him?
You are a sick individual right along with, or worse than he is!! You both will get your due, just wait, your time will come!!
The oil and gas boys huh! I don’t know what state you reside in but, lets say CA, Taxes on gasoline are just over 70 cents per gallon. Credit card companies receive 11 cents + 2% per transaction, the retailer has to make a profit as well. Oil rigs aren’t cheap, logistics aren’t cheap, exploration for new sources aren’t cheap, it’s takes over 2 years and hundreds of millions of dollars for the permitting process. Yes, the oil companies make a lot of money and I mean a lot because we purchase a lot of gas over 135 billion gallons of gas a year in America. When it comes down to it the real winners are the government, they receive taxes upon taxes. The only part that pis ses government off about this guy is that government is not getting their cut!
This is so true! And now this Government is changing Social Security so People who really need it to live, will be the losers. Congress is as low-life as Obama. They all should be Impeached from office, and made to live on a disabled persons benefits. I lost my ability to work because I was assaulted in the line of duty as a Police officer, and I’ve been ostracized ever since. I became someone not needed, and our Local Government lives like trash. This is dispicable and they all should be exposed for who, and what they are.
May God forgive them. The price was paid in full at the Cross for their sins, and they think that they are above the Law even God’s Judgment.
My only connection to gas companies is when I have to go to one for my car. However, I constantly see or hear people bitching about gas companies ripping us off. I notice, but, most don’t seem to, that gas was about $4,50 a gallon a couple of years ago, but, now, it is only $1.47 a gallon in my area, so, where is the rip-off?
If the A-Rabs charge a lot per barrel, the gas companies have to follow suit, they are not in business to lose business or give it away. When the A-Rabs do not charge so much, the money comes back to the American people, so, kwichurbichin.
you can’t blame opec or any other oil producers for that 4$$+ gas that lays directly on greedy oil option buyers and sellers s they pushed the price of oil up to over 110$$ a barrel just to make a profit !! umm that sounds familiar some how ?? what did this twit do again ???
there are natural medicines that cost less than the cheapest man made drug that the big pharma’s won’t let us hear about as they can not patent them so they are not able to take us to the cleaners ”I can name many that will cure cancer , fungal infections , mrsa , staph and more they can turn around high cholesterol , high blood sugar , and blood pressure !! but to name these organic oils and claim that they can do anything medical ( even when backed by research from many countries ) and you get a visit from the big pharma’s hip-pocket guard dog the FDA!!
Deport the sociopath back to Albania. He is a “hit-man”, just a financial one. Let them deal with him. At least the Mexicans aren’t ruining every day lives for Americans taking medicine. He’s worst than ALL of the Mexicans who sneaked-in over the border!!!
If everyone who has nothing but contempt for our government, president, congress, courts, and the American people in general were deported, the only ones still here would be the government and that scumbag Hillary, who now wishes nothing more than to follow in her fearless leaders footsteps, and she’s just hoping that if she gets indicted he will pardon her before he leaves office.
Very true!
Pearl watson, don’t compare him to anyone. let him stand alone. Comparisons mean nothing. Let every man and woman be responsible for their actions.
The cause of the anger, I’m sure, is not from the robbing of the patients in need of this drug but that they didn’t lobby the lawmakers in order to force them to use it at this price.
“BIG PHARMACY” also corrupts doctors, CORPORATIONS< now(doctors), and political figures as well. Money under the table! Doctors are corporations now and in it for making money and protecting each others backs. I say SOME, not all, as there are some who do have a CONSCIENCE! I am a retired RN (24 years) and a VETERAN. Believe me, I have seen them come and go. Politicians included. Things are not well for this GREEDY and CORPORATE AMERICA! this includes Wal-Mart, i.e. prison camp (FEMA) concentration camps now forming. Check out the REAL reasons why some WM'S closed down. GOD BLESS AMERICA!
raymond the word corrupt is not quite the right word as the big pharma actually pays the colleges money to train doctors ( grants ) and they are trained to use the best man-made drugs that are put out thus ensuring that natural cures are put down as quackery and snake oil !! while chemo kills more than heals they are not allowed to refuse to use it for fear of being sued ( malpractice ) if the Patience dies
What a P.O.S.!
Yes our elected members of congress do a lot of talking and shouting about serious matters such as this and then do noting to correct the blatant rape of the people they were elected to take care of such matters.
The arrogant generation of stock traders and corporate raiders that have taken over the whole of corporate control and the stock market should be brought to court, stripped of their wealth (with fines to take care of all the dirty money they made and the money put into the Medicare and Medicaid coffers) and made to serve a prison term for crimes for their crimes against the American people and legislation put into place to prevent future crimes such as this.
You are only dreaming that this will happen, I hope too.
frank if you would quit doubting and get out and vote for new blood that dream could happen but only if we get rid of all career politicians and put regular citizens in office
Whoa, stop, hit the brakes —- Isn’t this exactly what the witch clinton has done more than once and isn’t this what lerner did and also kuskinen !!!! So now that it is not a demoRAT politician or some jerkoff from this administration — it is a terrible way to act toward a congressional committee. Guess what — if these POS committees had one ounce of courage, clinton, lerner, kuskinen and obama would all be behind bars. But seeing it is not a politician, it is the worst. congress let it happen, congress has alowed crook after crook get away with it so now you have to eat what you reaped —- MORE CORRUPTION !!!!!!
I don’t see how he has any more contempt for congress than I do. They’re all a bunch of rat bastards who get paid too much to do nothing but ok everything the head rat bastard wants.
just remember you voted for some of them !! so if you don’t like the way they do their job give them a pink slip this year and put someone in that is not a pol. say a farmer or a mechanic doctor nurse fireman or even a general but no more lawyers and no more lifetime pol.s !!!
**You Rat Weasel Basturd….Yes Turd…**Enjoy Hell” after this life you cold heartless s.o.b…This should trigger all
Americans…enough is enough! These people go to school on our dime…get grants…patent there drugs and screw us all.
Heh Government…why don’t you step in and regulate these outrages pricing that is going on in the Pharmacy world!
He should be taken out and shot for murdering the people who can’t afford his medicine.It is no different than leaving the scene of an accident with out doing anything to help.He is the lowest form of scum on
earth.
It’s also no different from the lawmakers telling doctors to use method A instead of method B because A is more cost effective, even though B is more appropriate for the individual in question. Or putting Flint on Flint River water instead of Detroit water.He’s motivated by the spreadsheet and the $ figures.
What this LITTLE CREEP did isn’t illegal but is immoral!! But the morals of this country as a whole are reflected here!!!! I just wish both parties would have been this upset about Benghazi, the IRS, and illegal immigration!!!!
I was just thinking that this weasel reminded me of the IRS weasel’s that testified before Confess. Some of them took the 5th and we’re just as arrogant as this prick. Bet he watched hours of tapes from the IRS hearings and educated himself.
Why doesn’t someone just put a bullet into his worthless head?
This is the VERY best example showing that Congress is 100% impotent and how THEY waste the taxpayers money even holding hearings like this. IT accomplishes NOTHING, never has and never will because the FBI and the Supreme Court are also 100% impotent. Heil Clinton’s and Obama have insured that by putting the liberal judges in place there and at the Federal District levels and for the give-me, apathatic, stupid voters who keep these incompetent people in these Congressional positions so they will be assured of living on the “lamb” now and forever.
Total greed has no concerns for the sick. Ha sounds like a self indulgent person . Money again corrupts.enjoy it you will have to answer you our maker.
If I wouldn’t risk falling to the level of this uncaring piece of excrement I might wish that he contract a terribly painful disease which would take years to finally kill him….and then deny him any pain medication or other treatment. Of, Hell, I’ll take a chance!
He may be an obnoxious, self-centered jerk, but what part of “he is free to make his drugs ANY price he wants” don’t some people understand. This is NOT socialism, it is capitalism. This not charity it is business. The Congress knows this and is trying to make the public hate this guy. They and the FDA are to blame for the price of drugs, unavailability of some and the rush to push others that should not be passed. Why have they spent trillions to find the cure for cancer and still do not have one? Because the system is set up for Big Pharma to make money, not to solve problems or give drugs away to those who might need them.The government should stay the hell out of it. Obama care will put the squeeze on any new drug research anyway.
Not capitalism, pure unadulterated greed. Unfortunately, those depending on the life saving drugs this jerk prices put lives in danger. He deliberately found a drug, one used only for specific diseases, and exploited the need. That is piracy not business. Valeant makes other drugs as well. Do you think they will do the same outrageous price hike on them as well?
But these drugs are being paid for through Medicare and other taxpayer-funded programs. And undoubtedly the Government ties some kind of strings in exchange for being able to sell them. You get Government money/license, you play by their rules.
SCHNEEWITCHEN-* you have it backwards this is capitalism at it’s greediest but there is a catch if you make your product unaffordable them no one will buy it so the big pharma’s have made sure that you have no choice if you want to live or get well !! now this twerp took a medicine that only doctors administer and buy in bulk ie a bottle but they administer it by the dose at that dosage’s % of the cost of the whole so the consumer cost is less but still high as a total part of the bill! same with cancer treatments but this time to cure is to end the income thus once someone is cured they no longer need that medicine! but greed wisdom says treat but don’t cure while doing your best to block any cheaper but effective cures from seeing the light of day through the use of the big pharma’s lapdog (paid for by those drug co. ) the FDA ! whose intended task was to insure that all man made drugs were safe for us to use but for some unknown reason the law made the pharma co.’s pay for these test directly to the FDA leaving them in the power of the drug co.’s so the FDA is forced to be useless for us the consumer’s that know their are better ways to treat the ailments of mankind as now the FDA blocks any natural means of letting people know about safer treatments !!!
Witch Hunt
I personally would like to take him behind the wood shed.
Good thing I was not present. I would have eventually given in to my desire to kick this snug money grabbing jerk square in the ass.
This is the prime example of why the FDA needs revamping and only SCIENTISTS by on the FDA and NEVER lawyers, or EX CEOs of any drug company. this man should be beaten to a pulp for his arrogance. He thinks this is perfectly acceptable behavior, it’s been going on for likely since the FDA was approved. this is why our health is so bad in the US. this man not only hows contempt for congress but America as well. ALL of us. And he should be regarded the same way.
rodney before the FDA can be revamped it must be completely cut off from the big pharma’s check book !!!
as long as big pharma pay for the FDA to inspect / test their drugs they control how things get done !! the food and drug administration should never have been pay directly from the drug companies that money should have gone into the general funds of the federal government and the funds thus mixed in with all other funds ie tax money the gen. fund then funds the FDA making them responsible to all of the USA not beholden to the drug co.’s !!!!
How can a 60-year-old drug be purchased? The patent expired long ago. Other companies should be producing generic versions of this drug at much lower prices. This scumbag would then have to buy ALL the companies to jack up the price like he did.
The Company he answers too should beat his ass out the front door!!!
Why can’t we all do things according to our constitutional right….why does it only apply to certain people and certain things? Are we not Americans? Does the Constitution apply to all U.S. citizens or just a select few?
simple there are too many lawyers in congress and they know how to find loop holes in any law we need to put common workers in congress as they know how the laws will affect the rest of us !!!
Why didn’t they just call the US Marshall, and put him in cuffs, and drag his sorry soul off the prison. Maybe parade him in front of the cameras, with a orange suiit on and hit him with contempt of congress. Even if it didn’t stick, he wouldn’t be laughing so hard the next time he’s hauled before congress to testify.
maybe i’m wrong…but wasn’t a federal law passed on gouging years ago when they were over charging for gas,food and essential life drugs???…wouldn’t it be justice if this smug ALBANIAN developed an inoperatable cancer that none of his drugs could cure…SPEND YOUR MONEY NOW, SCUMBAG…IT AIN’T GONNA HELP YOU LATER!!!!
unfortunately that was for natural disasters like tornadoes , earthquakes and hurricanes !!
We’re all on an outrage because he jacked prices up so drastically, everybody noticed. How many pharmaceuticals were smart enough to hide a smaller increase? And how many of them are being enabled by ObamaCare?
He is the true meaning of a flippant, egotistical jerk. No wonder he’s the most available bachelor. Needs his clock cleaned.
I bet this guy isn’t the only person who is getting extremely rich off life-saving drugs. Maybe the government should change patent law so a drug has a shorter time before it becomes public domain.
that won’t work the change would have too limit profits on drugs that ease the suffering of the sick and needy so that the true cost of development and a 0.05% profit to encourage more research on new medicines( I said true cost as these co.’s like to pad their expediences before they decide the final price )
Just proves that BIG PHARMA has only one Objective….Create HUGE PROFIT while DESTROYING PEOPLE’S LIVES….Which their WIDE ARRAY OF “POISONS”….
ARROGANT LITTLE PRICK DESERVES A BULLET BETWEEN THE EYES…
why is it that people do not understand that in most cases when a disease is first recognized and diagnosed there are a plethora natural treatments that do not require synthetic drugs. the substances are taken from plants and those extracts have been healing human bodies for centuries if not millennia. www naturalnews com
Send him down to Texas. We are good about doing attitude adjustments.
Depends on what part of Texas you’re referring to Son.
He’s probably smirking because he know NOTHING will happens to him. The criminals are running the show, they have their sock puppets in power, and as usual it is all a,dog and pony show. We have two of the biggest poster children for crony crimes being forced on us as viable candidates for POTUS. Shkrili is a symptom of the bigger problem. People like Trump and Hillary are the disease from which those symptoms arise.
First off. It is his right to plead the fifth. Second from my under standing this drug has not been very effective in it’s use right now,
people can just opt out from not taking it with little or no effects with the results. That is why this company purchased this drug and is charging this larger price to raise R & D money to make it better. It really does not need to be taken with the other drugs, its performance with the other drugs is so low it makes no difference we you take it with the other drugs. So all this BS in congress is just a show of bullyism. He is smiling not in contempt but in his knowing that he is right about is right to plead the fifth.
congress needs to stay out of the free market and let the people choose what products to buy and for how much they are willing to pay for it.
Just Sayin
Looking outside the FDA nonsense, there are natural and electronic cures that have no side effects that are harmful to the body.
This guy better be looking over his shoulder for the rest of his life, … he may need to hire the power and skill of special forces or a marine corps to protect him, unless he improves his attitude toward his fellow man, and realizes the merits of “Treating Others the way He Wants to be Treated”, … He needs to recognize, there can be serious repercussion to his bad actions. ..
What does it mean when you respond to my comment with “Your comment is awaiting moderation” and, Why?
I thought Alfred E. Newman was dead. What an Idiot!!
Hey fedup, … What does your reference to Alfred E Newman mean?