Struggling Morrisville Pharma Vestiq Pharmaceuticals Files Chapter 7 Bankruptcy
Published: May 07, 2014
Morrisville’s Vestiq Holdings, owner of both Vestiq Pharmaceuticals and Praelia Pharmaceuticals, filed Chapter 7 bankruptcy. The company had $11.3 million in assets and $13.3 million in debts. A major creditor was Vanguard Pharma of Mahwah, N.J., which had a $4.2 million claim. Founded in January, 2013, Vestiq considered itself an “emerging specialty pharmaceutical company,” that acquired various products both in prescription and consumer lines.
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