Turing Pharmaceuticals, the drug company that raised the price of the generic AIDs-related drug Daraprim from $13.50 to $750 overnight, as previously reported by HNGN, is cutting the price due to the backlash that they received, according to BBC News. Martin Shkreli, the head of the company, stated that he would be decreasing the price of the drug, although he has not determined the exact amount of the decrease yet.
"We've agreed to lower the price on Daraprim to a point that is more affordable and is able to allow the company to make a profit, but a very small profit," said Shkreli.
Turing Pharmaceuticals faced a backlash from various sectors of the public, including the pharmaceutical industry itself. PhRMA, the pharmaceutical industry's main lobbying group, stated that Turing "does not represent the values of PhRMA member companies."
One of the main reasons for the outrage is the fact that Daraprim is used to treat patients with immune system disorders and diseases, including those with HIV, AIDS and cancer, according to The Province.
Shkreli claims that the decision to lower the price was a direct response to the outcry, according to CNBC.
"Yes it is absolutely a reaction - there were mistakes made with respect to helping people understand why we took this action, I think that it makes sense to lower the price in response to the anger that was felt by people," he said.
