Drug CEO to Lower Price Following Outrage
When one pharmaceutical group hiked up the price of a medication call Daraprim by 5,000 percent earlier this week, consumers and politicians, including Democratic presidential candidate Hillary Clinton, were outraged. Now, the company’s boss has vowed to lower the cost.
The drug, which is used to treat a rare infection, is also a part of cancer and HIV treatments. It was purchased by Turing Pharmaceuticals of New York for $55 million last month. When the NYC corporation took over, its CEO Martin Shkreli increased the price tag from $13.50 to $750 per pill.
Huge difference, right?!
While Shkreli was attempting to raise his business’ revenue, others believed he was taking advantage of underserved citizens.
In a speech during a campaign stop in Iowa where she revealed her plan to decrease prescription drug costs, Clinton said, “This is bad actors making a fortune off people’s misfortune.”
Shkreli responded, telling NBC News, “I think in the society we live in today it’s easy to want to villainize people, and obviously we’re in an election cycle where this is very, very tough topic for people and it’s very sensitive. And I understand the outrage.”
Nevertheless, the 32-year-old boss has changed his mind. While he’s unsure of the new amount, he’s expected to make a decision in the next few weeks.