U.S. Drugmaker Turing to Roll Back 5,000 Pct Price Hike
Turing Pharmaceuticals, a small company that generated outrage over raising the cost of an old anti-infective drug by more than 5,000 percent, said on Tuesday it would roll back that increase to make sure it remains affordable.
Turing and its Chief Executive Officer Martin Shkreli became the new face of the U.S. drug pricing controversy this week, after the New York Times reported that the company had raised the price of Daraprim, a 62-year-old treatment for a dangerous parasitic infection, to $750 a pill from $13.50 after acquiring it. The medicine once sold for $1 a pill.
The story sparked outrage among patients, medical societies and Democratic presidential front-runner Hillary Clinton, who outlined on Tuesday a proposal to cap skyrocketing prescription drug costs for consumers.
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