January 22, 2016 / 5:35 PM / 5 years ago

FTC probes Turing over drug prices, Shkreli's lawyer says

NEW YORK, Jan 22 (Reuters) - The Federal Trade Commission is investigating Turing Pharmaceuticals for possible antitrust violations following the company’s decision to raise the price of a life-saving medicine, a lawyer for former Chief Executive Martin Shkreli wrote on Friday.

The probe was disclosed in letter to members of the U.S. House Committee on Oversight and Government Reform on Thursday from Baruch Weiss, Shkreli’s lawyer, as grounds for why he would not answer questions at a hearing about drug prices next week.

In a letter seen by Reuters, Weiss said Shkreli would “gladly cooperate” with the committee and produce documents if it granted immunity to the controversial former drug executive.

But even if that happened, it would not occur before Tuesday’s hearing, “so there is no reason on that account for Mr. Shkreli to appear” at it, Weiss wrote in the letter. (Reporting by Nate Raymond in New York)

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