Turing Pharmaceuticals, the company formerly led by Martin Shkreli that raised the price of a drug by 5,000%, says it’s been losing money.
At the same time, they were able to throw a $23,000 “sales force meeting” on a yacht, complete with fireworks and cigar roller.
Turing’s Chief Commercial Officer Nancy Retzlaff confirmed the spending in a hearing on drug pricing held by the House Oversight and Reform Committee.
Among the $23,000 party expenditures? $800 spent on a cigar roller, Rep. Jason Chaffetz (R-UT) pointed out.
In addition, Chaffetz noted that a number of Turing employees received major raises while coming under fire for its increase in price of Daraprim from $13.50 to $750.
Chaffetz also mentioned that all Turing employees were scheduled to get 30% pay bonuses “across the board,” though Retzlaff said those haven’t been paid out.
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