Exclusive
M
artin Shkreli’s former company is losing money, watching sales of its famously costly medicine slip while considering yet another name change.
Vyera Pharmaceuticals, formerly called Turing Pharmaceuticals, lost more than $1 million in the first quarter of 2018, according to financial documents obtained by STAT. Sales, driven by the $750-a-pill Daraprim, have been on the wane over the past two years, falling more than 14 percent in 2017 and on pace to drop another 7 percent in 2018.
Unlock this article by subscribing to STAT Plus. Try it FREE for 30 days!
SUBSCRIBE TODAYWhat is it?
STAT Plus is a premium subscription that delivers daily market-moving biopharma coverage and in-depth science reporting from a team with decades of industry experience.
What's included?
- Authoritative biopharma coverage and analysis, interviews with industry pioneers, policy analysis, and first looks at cutting edge laboratories and early stage research
- Subscriber-only networking events and panel discussions across the country
- Monthly subscriber-only live chats with our reporters and experts in the field
- Discounted tickets to industry events and early-bird access to industry reports
About the Authors
The words “lipstick” and “pig” spring to mind…
The problem with this article is that you don’t separate R&D. This is voluntarily high and not a mandatory expense. I could be wrong but this is the company’s objective. Unlike large pharma they reinvest almost every $ to develop new and better drugs
If you believe Dave, I have a lovely Island in the Caribbean to sell you!