Company will lower AIDS drug price after worldwide outrage to 4,000% hike

The CEO of a pharmaceutical company, which increased the price of a drug used for parasite infections by more than 4,000 percent, said the company would substantially lower the price. Martin Shkreli, the CEO of Turing Pharmaceuticals, told ABC News they will lower the price days after making headlines and getting complaints from medical groups and others online.

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.

Martin Shkreli.

The drug called Daraprim is used to treat parasitic infections that most often occur in those with compromised immune systems due to cancer treatments or HIV infection, and it was sold for $18 per tablet before production rights were acquired by Turing Pharmaceuticals. The company is currently selling the medication for $750 per tablet – an increase of more than 4,000 percent. Shkreli and Turing Pharmaceuticals made headlines this week due to the price increase leading to medical groups and others online complaining the company was making money on patients who need the medication.

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