NEW YORK -- The moment Martin Shkreli announced a 5000 percent increase in the price of Daraprim, a drug used by some AIDS and cancer patients, the Internet exploded with rage. He was even called a "disgusting specimen of humanity."
Tuesday night, Shkreli said he'd roll back the price hike -- but not by how much.
"I don't think there's been a lot of backlash, honestly," Shkreli told CBS News. "I think that the backlash is from people that don't really understand healthcare very well, and I'm hopefully here to help educate how our system works."
Shkreli's bio on the Turning Pharmaceuticals website says he has a Bachelors of Business Administration from Baruch College. What the 32-year-old knows about healthcare he learned as a hedge fund manager, who often clashed with drug companies.
"I think it's going to be a win-win for everyone," Shkreli said. "I think our company will profit. I think we'll develop drugs for disease that no one's touched."
The board of directors of Retrophin, Shkreli's first drug company which he founded in 2011, kicked him out and filed suit in August for $65 million. He is alleged to have "used his control over Retrophin to enrich himself" and to pay back investors in his hedge fund, who lost millions in a bad investment.
An earlier lawsuit brought by a former Retrophin employee, Timothy Perotti, accused Shkreli of harassing his family.
Court documents include a message Shkreli sent to Perotti's wife: "I hope to see you and your four children homeless and will do whatever I can to assure this."
He also sent a Facebook post to Perotti's 16-year-old son, saying, "I want you to know about your dad he betrayed me. He stole $3 million from me."
That lawsuit was settled. The current lawsuit with Retrophin alleges Shkreli spent more time moving large amounts of money around between that company and his former investors than he did developing effective medications.