Turing CEO To Roll Back 4,000-Percent Cost Hike For AIDS Drug To ‘More Affordable’ Price
CNN Money also profiles Martin Shkreli, the controversial Turing Pharmaceuticals chief executive who has gained notoriety through his company's pricing move and subsequent defense on social media.
The Washington Post:
Turing CEO Martin Shkreli Promises To Lower Price Of Drug Previously Hiked 4,000 Percent — But Would Not Say By How Much
Turing Pharmaceuticals CEO Martin Shkreli announced Tuesday night that the company will roll back the price of the drug Daraprim, but did not commit to a specific price. The company had faced intense criticism in recent days from patient advocacy groups, doctors, politicians -- as well as from within its own industry -- after it raised the price of the 62-year-old drug from $18 to $750 or more than 4,000 percent after it purchased rights to the drug last month. The medication is a critical treatment for a parasitic infection that can be fatal to those with compromised immune systems due to conditions like AIDS/HIV and cancer. (Cha, 9/22)
Meet The Guy Behind The $750 AIDS Drug
Martin Shkreli has been called everything from a boy genius to a vulture. Now he's earned the title "most-hated man in America." The 32-year-old CEO of Turing Pharmaceuticals is at the heart of a controversy this week over alleged "price gouging" by drug makers. (Long and Egan, 9/22)