Martin Shkreli-founded drug company files for bankruptcy

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Martin Shkreli-founded drug company files for bankruptcy
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Vyera Pharmaceuticals, which previously settled price-fixing charges that resulted in founder Martin Shkreli being banned from the pharmaceutical industry, filed for bankruptcy late Tuesday to sell its assets.

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Vyera said its bankruptcy was the result of declining profits, increased competition for generic drugs, and litigation alleging that Vyera suppressed competition for its most valuable drug, Daraprim.

Vyera filed a Chapter 11 plan in court on Wednesday, laying out it its intent to repay creditors through asset sales.

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