Martin Shkreli subpoenaed by congressional committee
A Congressional committee has subpoenaed Martin Shkreli, the former CEO of Turing Pharmaceuticals and KaloBios , to testify at a hearing scheduled for January 26 on pricing and practices in the prescription drug market. Shkreli was arrested on December 17 and faces criminal and civil charges of fraud for actions he took as CEO of another firm, Retrophin . A spokeswoman for Rep. Elijah Cummings of Maryland told MarketWatch, "I have been trying for the better part of a year to get information from Martin Shkreli about his outrageous price increases, and he has obstructed our investigation at every turn. He claims publicly that he wants to explain to Congress how drug pricing works. On Tuesday, he will get his chance."
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.