Turing Pharmaceuticals will lower the price of its drug Daraprim amid backlash over a sudden spike, NBC News confirmed Tuesday.
The company’s decision to hike the drug’s price by about 5,500 percent was the subject of a recent New York Times story. In a phone call with NBC News, Turing CEO Martin Shkreli said he will cut the cost of treatment in response to the public outcry, but did not specify by how much.
Turing acquired Daraprim, which is used to treat a parasitic infection, in August. It since increased the cost of one pill from $13.50 to $750.
The decision sparked controversy and a response from Democratic presidential candidate Hillary Clinton, who outlined a plan to combat rising drug prices on Tuesday.
The price will drop to a level where Turing will break even or make a “small profit,” Shkreli told NBC. He previously defended the decision to raise the price by saying no patients would lose access to the drug and that Turing would put the extra cash toward research for a more effective treatment.
He said Tuesday that drugs like Daraprim cannot be sustained without companies receiving a return on their investment.