The House Oversight Committee is inviting two pharmaceutical executives who have been under fire for dramatically increasing the prices of their drugs to testify next month.
After pressure from Democrats to focus more on high drug prices, Oversight Chairman Jason Chaffetz intends to hold a hearing on the matter in January. He and his fellow Republicans on the panel are inviting Turing Pharmaceuticals CEO Martin Shkreli, who announced over the summer that his company would sell anti-malarial treatment Daraprim for 5,000 percent more after gaining its manufacturing license.
Shkreli incited widespread outrage with his announcement, leading some to dub him the “most hated man” in healthcare. The company is charging $750 for one tablet of Daraprim, which previously cost $13.50.
For their part, Democrats are inviting Michael Pearson, chief executive of Valeant Pharmaceuticals, who earlier this year raised the price of one heart drug by 525 percent and another by 212 percent immediately after acquiring the rights to them.