Life-Saving Drug Won't Cost 4,000% More After All
The CEO who spent the weekend defending a drastic price increase on a vital drug now says the company is changing its plans.By Samantha Crook | September 22, 2015
The CEO who spent the weekend defending his company's decision to raise the price of a drug more than 4,000 percent overnight now says he's changing course.
"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 welcomed," CEO Martin Shkreli told ABC.
The proposed change would have raised the price of the drug Daraprim from around $13.50 to $750 per pill. The exact price hasn't been announced, but Shkreli says it won't be $750.