Shkreli's Turing Pharma Confirms Price Cuts For Anti-parasite Drug

Privately held Turing Pharmaceuticals AG said Tuesday it will cut the price of anti-parasite tablet Daraprim by up to 50% for hospitals. The company will also distribute smaller bottles to make it easier for hospitals to stock up on the drug, and provide free samples to doctors. The Wall Street Journal reported last week that the price cuts were in the works, but that even with such discounts Daraprim would still cost hospitals far more than it did before Turing bought the drug's U.S. rights in August and raised the price to $750 a tablet, from $13.50. Turing Chief Executive Martin Shkreli drew criticism for the price increase from patient advocates and politicians.