Shkreli Won't Testify on House Drug Price Panel; Valeant Interim CEO Plans to Appear

Former Turing Pharmaceuticals CEO Martin Shrkeli refused to comply with a subpoena to testify in front of the Committee on Oversight and Government Reform, which convenes next week to discuss drug prices.

Shrkeli is under investigation for his role in the November 5,000 percent price increase of the drug Daraprim, a drug used to prevent infections in patients with HIV. Shrkeli took to Twitter to express his disdain for the subpoena, writing "Found this letter. Looks important."

Shrkeli stepped down as Turing CEO following his December fraud arrest for using a public company's assets to cover his debts.

Turing chief commercial officer Nancy Retzlaff is also expected to appear.

Valeant Interim CEO Howard Schiller plans to appear in front of the committee, according to a Valeant spokesperson in the Wall Street Journal. Valeant is under federal scrutiny for buying competitors' drugs and immediately raising their prices hundreds-fold.

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