Senate committee inquiry into drug price hikes will continue despite arrest of hedge fund manager ShkreliBMJ 2015; 351 doi: https://doi.org/10.1136/bmj.h6922 (Published 21 December 2015) Cite this as: BMJ 2015;351:h6922
- Owen Dyer
The arrest for securities fraud of Martin Shkreli, 32, who became the boyish face of drug industry greed this summer when his firm Turing Pharmaceuticals bought the generic toxoplasmosis treatment pyrimethamine (Daraprim) and raised the price by 5000% overnight,1 has been greeted with jubilation not just by the public but by an industry that had rapidly come to see Shkreli as a major public relations problem.
Shkreli is accused of embezzling $11m (£7.4m; €10.1m) from Retrophin Inc, a biotechnology firm that he founded in 2011, to pay back investors in “Ponzi-like schemes” involving his two hedge funds. He posted $5m bail and protested his innocence through a spokesman.
Under Shkreli’s leadership Retrophin had also engaged in generic drug price hiking, raising the cost …