Senate to Investigate Pharma Bro, Other Companies for Price Gouging

Leaders of the Senate Special Committee on Aging have started an investigation into pharmaceutical drug pricing.

It appears that Martin Shkreli, CEO of Turing Pharmaceuticals, can’t stop losing.

First he became the most hated man in America by raising the price of the life saving drug Daraprim from $13.50 to $750 per pill. Then he promised to lower the price (which he has yet to do) after all the backlash he received.

Next, a pharmaceutical company based in San Diego announced that it has successfully produced an alternative to Daraprim, and will sell the pill at about $1 per pill. Making all of the excuses Shkreli spat out on his twitter page an embarrassment.

Now, the US Senate is investigating Turing Pharmaceuticals along with Valeant Pharmaceuticals, Retrophin, Inc., and Rodelis Therapeutics due to their drug pricing practices. Recent actions within the pharmaceutical industry “have looked like little more than price gouging,” Sen. McCaskill noted in a press release.

The letters sent to the pharmaceutical companies requests documents including internal communications, pricing plans, communication with the FDA, and financial documents.

It doesn't look like Martin can sink to a lower point than this, but I'm sure he'll try.

-Saher K: OTG Team

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