Company says will cut price of drug after accused gouging

http://apnews.myway.com/article/20150923/us--turing_pharmaceuticals-drug_price-015070ed19.html

Sep 22, 8:56 PM (ET)

SAN FRANCISCO (AP) — The company that sparked an angry backlash after it raised the price of a drug for treating a deadly parasitic infection by more than 5,000 percent says it will roll back some of the increase.

Turing Pharmaceuticals CEO Martin Shkreli told ABC News on Tuesday that the new price would make Daraprim more accessible, although he did not say what the new price for the drug would be. A spokesman for Turing did not immediately respond to a request for details.

"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," Shkreli told ABC.

The company obtained rights to sell the drug, the only U.S.-approved treatment for toxoplasmosis, in August. It hiked the price overnight from $13.50 per pill to $750.

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tags: price gouging