Vyer

About Vyer

Vyera Pharmaceuticals, formerly known as Turing Pharmaceuticals, is a pharmaceutical company that was founded by Martin Shkreli in February 2015. The company, incorporated in Switzerland with offices in New York City, focused on acquiring and marketing drugs for rare diseases. Its main products were Daraprim (pyrimethamine), for treating toxoplasmosis, and Vecamyl (mecamylamine), for hypertension.

The company gained significant notoriety in August 2015 after acquiring the U.S. marketing rights to Daraprim and subsequently increasing its price by over 4,000%, from $17.50 to $750 per tablet. This action drew widespread criticism and led to multiple legal challenges. The Federal Trade Commission (FTC) and several state attorneys general filed a lawsuit against Vyera, its parent company Phoenixus AG, and its executives for anticompetitive practices aimed at creating a monopoly for Daraprim. The company was accused of restricting the drug's distribution to prevent generic competitors from obtaining samples for bioequivalence testing and blocking access to a key ingredient.

In December 2021, Vyera and Phoenixus reached a settlement, agreeing to pay up to $40 million in relief to consumers and to make Daraprim available to potential generic competitors at cost. Following these legal and financial pressures, Vyera Pharmaceuticals, along with its parent company, filed for Chapter 11 bankruptcy in May 2023. The company initiated a liquidation plan which received court approval in October 2023. In December 2023, Tilde Sciences acquired Daraprim® and Vecamyl® from Vyera Pharmaceuticals.