Drug CEO Will Lower Price of Daraprim After Hike Sparked Outrage

The pharmaceutical company boss under fire for increasing the price of the drug Daraprim by more than 5,000 percent said Tuesday he will lower the cost of the life-saving medication, NBC News reports. Martin Shkreli did not say what the new price would be, but expected a determination to be made over the next few weeks.

He told NBC News that the decision to lower the price was a reaction to outrage over the increase in the price of the drug from $13.50 to $750 per pill.

Turing Pharmaceuticals of New York bought the drug from Impax Laboratories in August for $55 million and raised the price. Shkreli said Tuesday the price would be lowered to allow the company to break even or make a smaller profit.

Daraprim fights toxoplasmosis. The infection is particularly dangerous for people who have weakened immune systems, like AIDS patients, as well as for pregnant women, according to the Centers for Disease Control and Prevention.

Source: Drug CEO Will Lower Price of Daraprim After Hike Sparked Outrage – NBC News

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