Drug CEO lowers Daraprim price because of public outrage
Martin Shkreli, CEO of Turing Pharmaceuticals AG, lowered the price of Daraprim amidst the public outrage. Daraprim is used treat the infectious disease toxoplasmosis, which particularly affects those with HIV and cancer, who might have weakened immune systems.
Shkreli recently increased the price of the drug from US$13.50 to US$750 per pill. The new price was not yet announced, but Shkreli said it won’t be US$750.
The CEO said the company needed to rasie their prices to fund research. The company intends to make new drugs to treat toxoplamosis which have fewer side effects. He said that drugs like Daraprim will not be developed if companies don’t have enough profit for research.
Shkreli said that patients who can’t afford the drug can try financial assistance programs.
Now, due to backlash from patients, health societies, and political figures, Turing Pharmaceuticals will lower the price of Daraprim and settle for smaller profits.
“We’ve agreed to lower the price of Daraprim to a point that is more affordable and is able to allow the company to make a profit, but a very small profit, and we think these changes will be welcomed,” CEO Martin Shkreli told ABC.
Category: Features, Pharmaceuticals
