Summoned to a congressional hearing into price-gouging, entrepreneur Martin Shkreli smirked, dodged and insulted those before him, even when all they wanted to talk about was Wu-Tang Clan.
“I don’t think I’ve ever seen the committee treated with such contempt,’’ Representative John Mica, a Florida Republican, said after Mr. Shkreli was excused and left the room. Mr. Mica asked if Mr. Shkreli could be held in contempt of Congress. The committee chairman, Representative Jason Chaffetz, Republican of Utah, said he did not intend to do so. The theatrics surrounding Mr. Shkreli’s appearance, which included his smirking at some remarks by committee members, overshadowed some of the more substantial discussion about huge overnight price increases in the prices of old drugs by Turing and another company, Valeant Pharmaceuticals International.
Shkreli famously raised the price of a cheap generic medication to $750 a pill, knowing that it would take years for other companies to get products approved. He was recently arrested on unrelated fraud charges and released on bond, thereby justifying his use of a phrase — "On the advice of councel… I respectfully decline" — used seemingly to mock his interrogators today.
