Turing Pharmaceuticals' chief executive, Martin Shkreli, has made an announcement regarding decreased price of Daraprim, a drug that is used for treatment of a parasitic infection. The company had hiked the cost of a pill from $13.50 to $750. The new price has not been revealed by him, however, it would be below $750 a pill.

Former hedge fund manager Martin Shkreli was slammed after the price of the drug was raised.

Shkreli said, "We've agreed to lower the price on Daraprim to a point that is more affordable and is able to allow the company to make a profit, but a very small profit. We think these changes will be welcomed".

Industry pressure and public shaming continue to be among some of the options to give rise to quick action for the reason that the government has nearly no control over prices of drugs. When it comes to this case, shaming turned out to be effective, but Shkreli's utter shamelessness and unapologetic attitude led to public contempt once again.

Over the past few days, Shkreli had presented himself as a Good Samaritan in a number of media appearances by saying that the hike is 'altruistic' for the reason that it could assist in making a new and improved treatments for the disease. According to Dr. David Belk, an Alameda physician prior to Shkreli's announcement, Shkreli is laughing despite public shaming. Belk is host of a website called the True Cost of Healthcare.