Martin 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 and enjoy your first 30 days free!
GET STARTEDWhat is it?
STAT Plus is STAT's premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond.
What's included?
- Daily reporting and analysis
- The most comprehensive industry coverage from a powerhouse team of reporters
- Subscriber-only newsletters
- Daily newsletters to brief you on the most important industry news of the day
- Online intelligence briefings
- Frequent opportunities to engage with veteran beat reporters and industry experts
- Exclusive industry events
- Premium access to subscriber-only networking events around the country
- The best reporters in the industry
- The most trusted and well-connected newsroom in the health care industry
- And much more
- Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr.
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!