After the news of the 5000 percent price increase of a drug called Daraprim, used to treat complications in curing AIDS, Cancer, and Pregnancy, shook the whole medical and economical worlds, U.S. Drug Maker Turing Pharmaceuticals, with its CEO Martin Shkreli, announced that they would cut down the price for the drug. The new price would be much affordable than the present price of the drug which is at $750.
Shkreli said in his interview with the ABC World News Tonight, "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 welcome."
"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," added Shkreli.
The price increase made by the Turing Pharmaceuticals is an action initiated by Shkreli to provide the drug making company funds to develop or create a better version for the treatment of Toxoplasmosis, an infection that is particularly dangerous for people who have weakened immune systems, like AIDS patients, as well as for pregnant women.
"It's very easy to see a large drug price increase and say 'Gosh, those people must be gouging.' But when you find out that the company is not really making any money, what does that mean?" Shkreli said in a phone interview with NBC News last Tuesday. "It's very hard stuff to understand," Shkreli added.
"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," Shkreli said.
