NEW YORK (FOX 5 NY) - A 32-year-old former hedge fund manager turned pharmaceutical boss is doubling down after raising the price of a life-saving drug by 5,555%, overnight.
On Tuesday, Martin Shkreli said the price of Daraprim- used to treat parasites- would be lowered from its new selling price of $750 a pill.
The CEO of Turing originally said he would not bring the price down but appeared to have buckled under intense media scrutiny.
At an initial price of $13.50 a tablet, Daraprim went up essentially overnight to a new, exorbitant price on Sunday.
While the price will be reduced, Shkreli has not said by how much, only that it will happen "in the coming weeks."