Drug CEO responds to $750 per pill

Pharmaceutical boss Martin Shkreli says he will lower the price of Daraprim after raising it 5,555%.

- 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."

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