Martin Shkreli Announces Turnaround On Daraprim 5,000% Price Rise

You’ve all seen the controversy surrounding Martin Shkreli and his company Turing Pharmaceuticals after they rose the price of life-saving drug Daraprim by 5,000%

Now, despite Shkreli’s words to the contrary, Turing Pharmaceuticals has said that they will be rolling back the increase so the drug is more affordable.

Shkreli announced the move while speaking to ABC World News Tonight, saying: “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.” We don’t yet know the new price of the drug, but it will obviously be less than the huge price of $750 per pill that was previously announced.

There is probably no one reason for this move, but one them may be that PhRMA, the pharmaceutical industry’s main lobbying group, distanced themselves from Shkreli and Turing. They took to twitter to say that Turing “does not represent the values of PhRMA member companies.”

When PhRMA were asked further about this, they confirmed that Turing are not one if it’s members.

“PhRMA members have a long history of drug discovery and innovation that has led to increased longevity and improved lives for millions of patients. Turing Pharmaceutical is not a member of PhRMA and we do not embrace either their recent actions or the conduct of their CEO.”

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Summary
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Martin Shkreli Announces Turnaround On Daraprim 5,000% Price Rise
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Martin Shkreli, CEO of Turing Pharmaceuticals, has announced a turnaround on the 5,000% price rise for life-saving drug Daraprim.