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Company Will Lower Drug Price After Critics Called 4,000% Hike ‘Unjustifiable’

The CEO of a pharmaceutical company, which increased the price of a drug used for parasite infections by more than 4,000 percent, said the company would substantially lower the price. Martin Shkreli, the CEO of Turing Pharmaceuticals, told ABC News they will lower the price days after making headlines and getting complaints from medical groups and others online. The drug called Daraprim is used to treat parasitic infections that most often occur in those with compromised immune systems due to cancer treatments or HIV infection, and it was sold for $18 per tablet before production rights were acquired by Turing Pharmaceuticals.