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Freeman [soylentnews.org] writes:

https://arstechnica.com/science/2023/05/pharma-company-behind-shkrelis-infamous-4000-price-hike-files-for-bankruptcy/ [arstechnica.com]

The pharmaceutical company behind Martin Shkreli's infamous 4,000 percent price hike—now known as Vyera Pharmaceuticals—filed for bankruptcy this week and plans to sell its assets to pay off millions in debts.

In court documents filed Wednesday [arstechnica.net], Vyera's chief restructuring officer, Lawrence Perkins, largely blamed Shkreli for dooming the company and its affiliates.
[...]
Shkreli founded Vyera in 2014 under the name Turing Pharmaceuticals. His focus was to acquire sole-source drugs that treat life-threatening conditions in small populations of patients—and then dramatically jack up the price. In August 2015, he did just that, buying the rights to the decades-old anti-parasitic drug Daraprim for $55 million and abruptly raising the price from $17.60 per tablet to $750, a more than 4,000 percent increase.
[...]
Shkreli's influence wasn't shaken until January 2020, when the Federal Trade Commission and several state attorneys general sued Shkreli and the company—then called Vyera—for allegedly violating antitrust laws. Soon after, Vyera appointed a new board and management to purge ties to Shkreli. Vyera later settled the FTC's lawsuit, while Shkreli insisted on going to trial, where he lost, was banned from the pharmaceutical industry for life [arstechnica.com], and ordered to pay roughly $65 million in disgorgement. He is appealing the ruling.

Meanwhile, Vyera never reversed Shkreli's price hike.

Previously:
Cost of Daraprim Medication Raised by Over 50 Times [soylentnews.org] 20150922
Stories mentioning Shkreli on Soylentnews [soylentnews.org] 21+ stories (Famous/infamous, same dif, right?)

Related:
Martin Shkreli Launches Blockchain-Based Drug Discovery Platform [soylentnews.org] 20220726
FTC: Shkreli May Have Violated Lifetime Pharma Ban, Should be Held in Contempt [soylentnews.org] 20230125
Shkreli Tells Judge His Drug Discovery Software is Not for Discovering Drugs [soylentnews.org] 20230215

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