Remember Martin Shkreli?

Hmm. Rings a bell.

You know, the start-up bro who bought and jacked up the price of life-saving HIV meds from $13.50 to $750 a pop?

Oh. That guy.

Yeah, him.

The 32-year-old CEO of Turing Pharmaceuticals got the whole world angry in September when it emerged he had bought the rights to manufacture Daraprim, which is used to treat people with weak immune systems such as HIV and cancer patients.

After initially beefing with everyone and anyone who criticised the decision, Shkreli backed down, announcing that the price hike would not go ahead, but refusing to say what the new price tag would be.

Try and suspend your disbelief, but now it appears Shkreli has reneged on his promise.

The Associated Press reports that Turing is reducing charges for hospitals by up to 50 per cent, but medical insurers will still be stuck with most of the $750 tab per pill, which will inevitably drive up future treatment and insurance costs.

It may not be payday for Shkreli yet, however.

Imprimis, a pharmacy in San Diego, said in October that it plans to make a generic version of Daraprim for $0.99 a pill.

CEO Mark Baum said this week that orders from hospitals have been pouring in and the company is now working with the Food and Drug Administration in the US to get the compound drug covered by both Medicare and private insurers.

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