Martin Shkreli, chief of Valeant Pharmaceuticals, has earned the ire of US congressmen at a hearing on Capitol Hill Thursday. The big pharma executive was interrogated regarding his company's hiking of drug prices but he repeatedly invoked his Fifth Amendment infuriating the US lawmakers.
The 32-year old Shkreli who is apparently being vilified as the new face of big pharma greed, was summoned in Capitol Hill by the House Oversight and Government Reform Committee in connection with its investigation on the rising prices of critical medicines.
Shkreli is allegedly responsible for hiking the prices of lifesaving and long-established critical drugs by over 5,000 percent. He repeatedly exercised his Fifth Amendment as his big pharma bravely default move against self-incrimination.
The top Democrat on the investigating panel, Rep. Elijah Cummings berated the big pharma executive. "I call this money blood money ... coming out of the pockets of hardworking Americans," he said.
It seems Cummings' remarks were provoked by the smirk on the face of Shkreli while facing the lawmakers. He appeared in the investigation with a frat-boy swagger apparently ready with his big pharma bravely default stance of invoking the Fifth Amendment.
Previously, he was arrested in New York last December for alleged securities-fraud activities not related to the hike in prices of medicines. The former hedge fund manager pleaded not guilty and he is currently out because of the $5 million bail he paid the court.
Wearing just an open-collar shirt topped with a sport jacket, his appearance before the congressional panel is just less than an hour. Because of his alleged disrespect, several lawmakers expressed their displeasure towards his attitude and conduct.
Shkreli is apparently unnerved by the treatment he got from the members of congress.
"Hard to accept that these imbeciles represent the people in our government," the big pharma executive tweeted.
