Update: Martin Shkreli has walked back on his promise to roll back the cost of Daraprim. The company announced that the essential medication will remain at 5500% of its original price.
Under intense public pressure, Shkreli said he would roll back "some" of the price increase of Daraprim, a critical medication used by cancer and HIV patients.
Today, the price remains at $750, astronomically higher than the $13.50 it cost before Shkreli cornered the rights.
Shkreli backed off his dangerous business plan once he saw the outrage worldwide -- but now we need to make sure he follows through.
Please help us keep the pressure on Shkreli by signing this petition now.
Daraprim is a 62-year old drug used to treat a parasite that afflicts millions worldwide, and is a common treatment for HIV and cancer patients. With Shkreli's 5500% increase, the drug would cost at least $336,000 for a year's worth of treatment.
An incredibly hard-working coalition is keeping the pressure on. Last month, they hoisted a banner in front of Shkreli's office in Manhattan with a message directly from 223,000 SumOfUs members: reverse the price of Daraprim now.
This is about more than just one hedge fund manager. It's a worrying new trend -- corporate interests are buying up cheap, old patents and then milking patent monopolies to gouge patients.
But citizens are fighting back against corporations trying to profit off the sick -- and winning. Public backlash has worked, forcing another company, Rodelis Therapeutics, to reverse an overnight price increase for an essential tuberculosis medication.
And this week we received some good news: A two-time cancer-surviving grandmother from Australia won a court battle against US biotech firm Myriad Genetics. Myriad wanted to patent the BRCA-1 cancer gene, making breast cancer testing more expensive and difficult to access. But it was stopped in its tracks. Over 150,000 SumOfUs members spoke out against Myriad's attempt to patent the sick.
Let's do it again. If we keep the pressure up, Shkreli will have to back down from his senseless price gouging, and HIV and cancer patients will be able to get the medicine they need.
It's been two weeks, Martin Shkreli. Reverse the gouging cost hike now.
$750/pill pharma company reverses decision to lower drug price, ars technica, Nov. 25th, 2015
After Martin Shkreli Promises Decrease, Daraprim Price Still Up 5000%, ATTN:, October 7th, 2015
Company Will Lower Drug Price After Critics Called 4,000% Hike 'Unjustifiable', ABC News, September 19, 2015