Drug CEO to lower price of Daraprim after hike sparks outrage

The pharmaceutical company boss under fire for increasing the price of drug Daraprim by more than 5,000 percent said Tuesday he will lower the cost of the life-saving medication.

While Martin Shkreli didn't say what the price would be, he said the change would be made over the next few weeks.

Shkreli told NBC News the change was a reaction to outrage over the increase of the price of the drug to $750 per pill from $13.50.

"Yes it is absolutely a reaction — there were mistakes made with respect to helping people understand why we took this action. I think that it makes sense to lower the price in response to the anger that was felt by people," the 32-year-old said.

Daraprim is used to fight toxoplasmosis, an infection that's dangerous to people with weakened immune systems, like AIDS patients, as well as pregnant women.

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