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No beer for you, Martin Shkreli

CNBC CNBC 15/10/2016 Antonio José Vielma

No beer for you, Martin.

"Pharma bro" Martin Shkreli planned on stopping by a Brooklyn bar for happy hour immediately after his hearing in Brooklyn Federal Court Friday afternoon. 

Two minutes after his first tweet asking for suggestions, he invited his "fans" to meet up with him at Henry Street Ale House, and offered to pay for drinks. 

The bar put a stop to that almost immediately after he invited his 154,000 Twitter (TWTR) followers to join him. Shkreli is accused of looting the pharma company Retrophin of $11 million to pay off investors he was suspected of previously defrauding in a hedge fund he ran.

Apparently, the Brooklyn Heights establishment did not approve of Shkreli's self-invitation, and in a tweet (that has since been deleted) said Shkreli and his "fans" were not welcome. 

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The bar followed up with a couple of tweets explaining and defending the decision.

The bar's manager told CNBC, "We're a small place, and we operate a restaurant ... We're not a big bar," he said. "This has nothing to do with politics, but this is a controversial figure... We're a low-key place, we needed advance notice."

The manager, who asked that his name not be used in the story, also said Shkreli reached out and apologized.

It didn't take long for the accused fraudster to find a new place. Shkreli now plans to be at Brooklyn Public House shortly after his hearing. 

Shkreli first drew public attention and scorn last year after his new company, Turing Pharmaceuticals, abruptly raised the price of the drug Daraprim, used to treat toxoplasmosis, by more than 5,500 percent. Daraprim's sticker price jumped from $13.50 per pill to $750 per pill overnight.

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He repeatedly defended the increase as justified, even as critics noted that pregnant women, babies and people infected with the HIV virus are primary patients of the medication.

Although the price hike drew widespread outrage, it had nothing to do with the criminal charges that were subsequently lodged against him.

In February, Shkreli refused to testify before a congressional committee investigating drug price increases, citing his Fifth Amendment right against self-incrimination.

Please check back for updates on Shkreli's hearing later Friday.

CNBC's Dan Mangan contributed to this report

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