Pharma company cuts drug price after public backlash

Turing Pharmaceuticals will offer its $750-a-pill generic drug Daraprim at a 50 percent discount, but won't change the list price of the anti-parasite treatment despite public outcry.

Turing and its CEO Martin Shkreli created a massive public backlash earlier this fall when the company hiked the price of Daraprim from $13.50 to $750 a pill. The treatment has been on the market for decades.

The $750 price will remain, but Turing said in a statement Tuesday that it will offer discounts of up to 50 percent on that price for hospitals. The company said hospitals are the first to treat about 80 percent of the patients with toxoplasmosis encephalitis, the most common form of toxoplasmosis, which is the condition treated by Daraprim.

The company said it will participate in federal and state programs such as Medicaid and Section 340B. It also said it will work with patients with commercial insurance to ensure their out-of-pocket obligation will be no more than $10 per prescription, a press release reads.