‘Pharma bro’ Martin Shkreli weasels out of promise to roll back insane cost increase of pills

 

The price-gouging “pharma bro” is backing out of his promise to lower the cost of Daraprim after jacking up its price by more than 5,000 percent.

Martin Shkreli, chief executive officer of Turing Pharmaceuticals AG, became known as “the most hated man on the Internet” after raising the price of the drug, which is used to treat parasitic infections, from $13.50 a pill to $750 a pill.

He backed down shortly after the controversy erupted and pledged to roll back the cost of the 62-year-old drug to its original price — but the company said earlier this month the price would be only modestly rolled back.

Turing announced Tuesday that the price for Daraprim would not change, after all — although the company offered to negotiate a discount of up to 50 percent with hospitals.

Read more here: http://www.rawstory.com/2015/11/pharma-bro-martin-shkreli-weasels-out-of-promise-to-roll-back-insane-cost-increase-of-pills/