CEO says company will lower price of drug after hiking it more than 5,400 percent

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NEW YORK, NY – If Martin Shkreli isn’t the most hated man in the world, he’s right up there.

Shkreli is the 32-year-old CEO of Turing Pharmaceuticals that announced this week that it was raising the price of Daraprim from $13.50 per pill, to $750 a pill, an increase of more than 5,455 percent.

That would be like paying two bucks a gallon for gas, like we do now, to forking out around $110 a gallon.

Doctors prescribe Daraprim to treat a potentially deadly parasitic infection, which can affect people with compromised immune systems.

Shkreli first said his company would give away most of the 70-year-old drug to those who couldn’t afford the hefty price, adding that profits would go into improving it.

But then he started getting flack from folks like the Infectious Diseases Society of America and the HIV Medicine Association who called the increase "unjustifiable for the medically vulnerable patient population,” which led Shkreli to say Turing will lower the price to make it more affordable while allowing the company to make a small profit."

Shkreli hasn’t said what the new lower, more affordable price will be, and that’s because it might be hard to speak when you’ve been forced to swallow the bitter pill of defeat.

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