Vyera Pharmaceuticals

Turing Pharmaceuticals was launched in February 2015 by Martin Shkreli with the acquisition of three major assets from an orphan drug developer called Retrophin: an intranasal formulation of ketamine, an oxytocin nasal solution, and Vecamyl.{{cite news|title=Launch of Turing Pharmaceuticals Announced – New Drug Company to Focus on Treating Unmet Medical Needs Across Broad Therapeutic Areas|url=http://www.turingpharma.com/media/press-release?headline=launch-of-turing-pharmaceuticals-announced-%25e2%2580%2593-new-drug-company-to-focus-on-treating-unmet-medical-needs-across-broad-therapeutic-areas|access-date=19 December 2015|publisher=Turingpharma.com|date=February 24, 2015|url-status=dead|archive-url=https://wayback.archive-it.org/all/20150926154652/http://www.turingpharma.com/media/press-release?headline=launch-of-turing-pharmaceuticals-announced-%e2%80%93-new-drug-company-to-focus-on-treating-unmet-medical-needs-across-broad-therapeutic-areas|archive-date=26 September 2015}} The company acquired the US marketing rights to Daraprim from Impax Laboratories (Now merged into Amneal Pharmaceuticals) in August 2015.{{cite news|title=Turing Pharmaceuticals AG Acquires U.S. Marketing Rights to DARAPRIM® (pyrimethamine)|url=http://www.turingpharma.com/media/press-release?headline=turing-pharmaceuticals-ag-acquires-u.s.-marketing-rights-to-daraprim%25c2%25ae-%28pyrimethamine%29|access-date=19 December 2015|publisher=Turingpharma.com|date=August 10, 2015|url-status=dead|archive-url=https://archive.today/20160304075557/http://www.turingpharma.com/media/press-release?headline=turing-pharmaceuticals-ag-acquires-u.s.-marketing-rights-to-daraprim%25c2%25ae-(pyrimethamine)|archive-date=4 March 2016}}

In September 2015, Turing raised the price of Daraprim from $13.50 to $750 a tablet. This increase prompted widespread criticism of the company from many quarters, including the pharmaceutical industry itself.{{cite news|last1=Timmermann|first1=Like|title=A Timeline of the Turing Pharma Controversy|url=https://www.forbes.com/sites/luketimmerman/2015/09/23/a-timeline-of-the-turing-pharma-controversy/|access-date=19 December 2015|work=Forbes.com|date=September 23, 2015}}

Shkreli resigned as Turing Pharmaceuticals' CEO on 18 December 2015, following his arrest on charges of defrauding investors in his former hedge fund.{{cite news|title=Martin Shkreli resigns from Turing Pharmaceuticals after fraud charges|url=https://www.theguardian.com/us-news/2015/dec/18/martin-shkreli-resigns-turing-pharmaceuticals-fraud-charges|access-date=19 December 2015|publisher=Theguardian.com|date=December 19, 2015}}

Daraprim is the trade name for the drug pyrimethamine, which is indicated for the treatment of toxoplasmosis in combination with a sulfonamide, and has been available since 1953.{{cite news|newspaper=The Washington Post|title=CEO who raised price of old pill more than $700 calls journalist a 'moron' for asking why|author= Ariana Eunjung Cha |date=2015-09-22|url=https://www.washingtonpost.com/news/to-your-health/wp/2015/09/21/ceo-of-company-that-raised-the-price-of-old-pill-hundreds-of-dollars-overnight-calls-journalist-a-moron-for-asking-why/}} At the time of the Daraprim acquisition Turing Pharmaceuticals indicated that it intended to develop new toxoplasmosis drug candidates with better ADME than Daraprim.

In response to criticisms of the September 2015 price increases, Turing Pharmaceuticals announced various patient affordability and access initiatives{{cite news|title=Turing Pharmaceuticals LLC Announces Improvements in Daraprim Accessibility and Affordability|url=http://www.turingpharma.com/media/press-release?headline=turing-pharmaceuticals-llc-announces-improvements-in-daraprim-accessibility-and-affordability|access-date=19 December 2015|agency=Turingpharma.com|date=October 13, 2015|url-status=dead|archive-url=https://web.archive.org/web/20151222125632/http://www.turingpharma.com/media/press-release?headline=turing-pharmaceuticals-llc-announces-improvements-in-daraprim-accessibility-and-affordability|archive-date=22 December 2015}} and in November 2015 the company reduced the cost of Daraprim for hospitals by up to 50% of the increased rate.{{cite news|title=Turing Reduces Cost of Daraprim® (pyrimethamine)|url=http://www.turingpharma.com/media/press-release?headline=turing-reduces-cost-of-daraprim%2526reg%253b-%28pyrimethamine%29%250d%250a|access-date=19 December 2015|publisher=Turingpharma.com|date=November 24, 2015|url-status=dead|archive-url=https://web.archive.org/web/20151222134852/http://www.turingpharma.com/media/press-release?headline=turing-reduces-cost-of-daraprim%2526reg%253b-%28pyrimethamine%29%250d%250a|archive-date=22 December 2015}} Despite these partial rollbacks to the initial price increase, according to February 2, 2016, memo from Representative Elijah Cummings to the United States House Committee on Oversight and Government Reform, since Turing's acquisition to the rights in Daraprim, the drug has gone from being affordable and readily available to being prohibitively expensive.{{Cite web |url=http://democrats.oversight.house.gov/sites/democrats.oversight.house.gov/files/documents/Memo%20on%20Turing%20Documents.pdf |title=Archived copy |access-date=2016-02-04 |archive-date=2016-03-20 |archive-url=https://web.archive.org/web/20160320035448/http://democrats.oversight.house.gov/sites/democrats.oversight.house.gov/files/documents/Memo%20on%20Turing%20Documents.pdf |url-status=dead }}

In January 2020 the FTC filed a case against Vyera "alleging an elaborate anticompetitive scheme to preserve a monopoly for the life-saving drug, Daraprim".{{Cite web|url=https://www.ftc.gov/enforcement/cases-proceedings/161-0001/vyera-pharmaceuticals-llc|title=Vyera Pharmaceuticals, LLC|date=January 27, 2020|website=Federal Trade Commission}} A settlement was reached in December 2021. According to AP News, the settlement "requires Vyera and Phoenixus to provide up to $40 million in relief over 10 years to consumers who allegedly were fleeced by their actions and requires them to make Daraprim available to any potential generic competitor at the cost of producing the drug."{{Cite web|url=https://apnews.com/article/business-health-federal-trade-commission-martin-shkreli-98e0a8b6be3dc6901153610756cbb58a|title='Pharma Bro' firm reaches $40M settlement in gouging case|date=December 8, 2021|website=AP News}} According to Law360, Kevin Mulleady "agreed to a seven-year ban on working for or holding more than an 8% share in most pharmaceutical companies."{{Cite web|url=https://www.law360.com/articles/1446580/former-shkreli-co-inks-deal-worth-up-to-40m-with-ftc-ags|title=Former Shkreli Co. Inks Deal Worth Up To $40M With FTC, AGs - Law360|website=Law360|date=December 7, 2021|first=Bryan|last=Koenig}}

Vecamyl is currently indicated for the treatment of hypertension.

This product, also called TUR-001, is Turing Pharmaceuticals' oxytocin nasal solution. Syntocinon, short for 'synthetic oxytocin', was first introduced by the Swiss pharmaceutical company Sandoz in 1956. The product had gained FDA approval in 1960 to assist in initial postpartum milk ejection, but was discontinued by Sandoz's successor company, Novartis, in 1997 because of poor sales. Retrophin had licensed the product from Novartis in December 2013 in order to bring it back to the market for postpartum milk ejection as well as look into its use in the treatment of schizophrenia and autism.{{cite news|title=Retrophin Signs U.S. License Agreement for Syntocinon™ Nasal Spray (Oxytocin)|url=http://www.businesswire.com/news/home/20131212005564/en/Retrophin-Signs-U.S.-License-Agreement-Syntocinon%E2%84%A2-Nasal|access-date=19 December 2015|agency=Business Wire|date=December 12, 2013}} Turing Pharmaceuticals is preparing for a Phase III in lactation and other indications are planned.

This product is Turing Pharmaceuticals' intranasal formulation of racemic ketamine. The company is working on the product for the treatment of suicidality.

This product is under development for the treatment of seizures associated with severe epilepsy disorders. Turing Pharmaceuticals made an IND filing for TUR-004 in October 2015{{cite news|title=Turing Pharmaceuticals AG Announces IND Filing for TUR-004|url=http://www.turingpharma.com/media/press-release?headline=turing-pharmaceuticals-ag-announces-ind-filing-for-tur%2526%252345%253b004|access-date=19 December 2015|publisher=Turingpharma.com|date=October 5, 2015|url-status=dead|archive-url=https://web.archive.org/web/20151222155104/http://www.turingpharma.com/media/press-release?headline=turing-pharmaceuticals-ag-announces-ind-filing-for-tur%2526%252345%253b004|archive-date=22 December 2015}} and the product was granted Fast Track designation by the FDA. A Phase I Clinical Trial of TUR 004 for epileptic encephalopathies commenced in November 2015.{{cite news|title=Turing Initiates Dosing in Phase I Clinical Trial of TUR 004 for Epileptic Encephalopathies|url=http://www.turingpharma.com/media/press-release?headline=turing-initiates-dosing-in-phase-i-clinical-trial-of-tur-004-for-epileptic-encephalopathies|access-date=19 December 2015|publisher=Turinpharma.com|date=November 16, 2015|url-status=dead|archive-url=https://web.archive.org/web/20151222104522/http://www.turingpharma.com/media/press-release?headline=turing-initiates-dosing-in-phase-i-clinical-trial-of-tur-004-for-epileptic-encephalopathies|archive-date=22 December 2015}}

Turing Pharmaceuticals is also working on TRP-001 for glycogen storage disorders, TRP-002 for developmental disorder, TRP-003 for leukodystrophy, TRP-004 for toxoplasmosis, TRP-005 for epileptic encephalopathy, and TRP-011 for congenital metabolic disorder.

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Category:Pharmaceutical companies established in 2015

Category:Pharmaceutical companies of Switzerland

Category:Companies that filed for Chapter 11 bankruptcy in 2023

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