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Martin Shkreli Avoids Congressional Drug Price Hearings; Valeant Interim CEO Plans To Appear

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Martin Shkreli Avoids Congressional Drug Price Hearings; Valeant Interim CEO Plans To Appear

Former Turing Pharmaceuticals CEO Martin Shrkeli has refused to comply with a subpoena to testify in front of a Senate panel, which convenes next week to discuss drug prices, ArsTechnica reports.

It's likely Shkreli also won't appear before a House committee investigation, given his disdain for the separate subpoena. Shkreli took to Twitter to discuss the notice, 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 Will Appear

Valeant Pharmaceuticals Intl Inc (NYSE: VRX) 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 scrutiny for buying competitors' drugs and raising prices.

Valeant shares are up 1.4 percent on Thursday's trading.

Posted-In: Martin Shkreli ValeantBiotech News Rumors Hedge Funds Movers General Best of Benzinga

 

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