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Can Congress do anything about high drug prices?




Martin Shkreli, former CEO of Turing Pharmaceuticals LLC, prepares to testify before a House Oversight and Government Reform hearing on
Martin Shkreli, former CEO of Turing Pharmaceuticals LLC, prepares to testify before a House Oversight and Government Reform hearing on "Developments in the Prescription Drug Market Oversight" on Capitol Hill in Washington February 4, 2016. REUTERS/Joshua Roberts
JOSHUA ROBERTS

Earlier this year Mar­tin Shkreli be­came the public's most hated man after his former company,  Turing Pharmaceuticals, raised the price of the life saving drug Daraprim from $13.50 a pill to $750 overnight.

In 2015,  Shkreli resigned as CEO of Turing after being arrested on charges of securities fraud. Yesterday he faced members of the House Over­sight and Gov­ern­ment Re­form Com­mit­tee who tried to question him on the decision to raise the price of the drug. Here's a clip of the exchange:

It was expected that he would plead the fifth, but even if he didn't ... could Congress even do anything about the dramatic price hike? Does Congress have any power over the costs of medications? 

We'll talk about it with Rachel Roubein, who wrote about if for National Journal.