Here's why Martin Shkreli says he still hasn't lowered the price of the critical drug he hiked from $13.50 to $750
Twitter.com/MarinShkreli
And so far, that hasn't happened. So we called Shkreli up to learn a little more about what the company's been up to since they came under fire for jacking up their drug price from $13.50 to $750. What he said didn't assure us that a change in price would come any time soon.
"I said that it would take a long amount of time to figure out how and when to lower the price," Shkreli said, in reference to his interview with ABC News when he first announced he'd cut the cost of Daraprim in response to public outcry over the hike.
Shkreli said his company, Turing Pharmaceuticals, wants to reevaluate is how much of a demand there is for Daraprim before they lower to price. The drug is currently used to treat malaria and toxoplasmosis, an infection that's extrememly harmful for people with weakened immune systems such as people with AIDS and cancer.
"Until we figure out demand, we won't lower the price." he said. "We have to find a safe price to lower it to."
And once Turing settles on a lower price, it might not be as low as some are calling for. It likely won't be anywhere near what the original price was before the hike, Shkreli said.
Turing Pharmaceutical is not the only company that has jacked up the price of an off-patent drug: Pharma giants Pfizer, Merck, and Valeant have all come under fire for similar stunts.
"There have been hundreds of companies that have raised [their drug prices] higher, and they're not rolling back their prices, so why should we?"
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- Vodafone Idea FPO allotment – How to check allotment, GMP and more
- 9 Most beautiful waterfalls to visit in India in 2024
- Reliance, JSW Neo Energy and 5 others bid for govt incentives to set up battery manufacturing units
- Rupee rises 3 paise to close at 83.33 against US dollar
- Supreme Court expands Patanjali misleading ads hearing to include FMCG companies
- Reliance Industries wins govt nod for additional investment to raise KG-D6 gas output