Federal Trade Commission now probing Turing’s notorious drug pricing
Turing Pharmaceutical’s dramatic and rage-inducing decision to jack up the price of a life-saving drug, Daraprim, by more than 5,000 percent is now under investigation by the Federal Trade Commission, according to a lawyer for the pharmaceutical company’s now former CEO, Martin Shkreli.
Shkreli’s lawyer, Baruch Weiss, disclosed the FTC investigation in a letter to the US House of Representatives’ Committee on Oversight and Government Reform, which had subpoenaed Shkreli to appear in a January 26 hearing to discuss the same price hike. Weiss cited the FTC probe as the reason that Shkreli would refuse to answer the committee’s questions, invoking his Fifth Amendment right not to incriminate himself, according to Reuters, who broke the story and saw the letter.
In the letter, Weiss wrote that Shkreli would “gladly cooperate” with the House committee if it granted Shkreli immunity. However, such immunity, if granted, would unlikely be granted in time for next Tuesday’s hearing.
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