The reaction to Turing's price hike ignited so much backlash the company has done a U-turn, and plans to lower the price again. Previously, chief executive Martin Shkreli said the group pushed the price up to make a profit after it recently purchased the rights. Before, he claimed, owners of the drug were "giving it away". Lowering the price has made the product more affordable again, but Mr Shkreli admits the company will still make a "small profit".
This might sound like a broadsheet story, and a feather in Mrs Clinton's campaign cap, but it's a salient reminder to biotech investors that high drug prices don't sit well with the public. They also invite competition from other companies who can produce similar drugs for a lower price.
Source: Nasdaq Global Indexes
