Martin Shkreli, the former chief executive of Turing Pharmaceuticals, repeatedly exercised his Fifth Amendment right to avoid self-incrimination, infuriating members of the House Committee on Oversight and Government Reform. Mr. Shkreli is facing federal securities fraud charges.
1. What is the scandal that Mr. Shkreli’s company is apart of?
2. What is the connection of Valeant Pharmaceuticals International with this hearing?
3. If Turing had acquired the rights to Daraprim, a 62-year-old drug for a parasitic infection, and raised the price fiftyfold, to $750 a pill, what was its orignal price?
4. The article said that little of substance was discussed on what to do about the increases. Discuss whether the FDA should be apart of this process or what other types of solutions you would suggest.
5. Are the drug increased prices at the heart of the federal security fraud charges for Mr. Shkereli, or is there another matter?
Pollack, A. and E. Huetteman. (2016). Martin Shkreli Invokes the Fifth Amendment During Grilling by Congress. The New York Times, Feb. 4 (Retrievable online at http://www.nytimes.com/2016/02/05/business/drug-prices-valeant-martin-shkreli-congress.html)