Insys Therapeutics shares tanked Monday after the company said it may have to file for bankruptcy because it can't afford legal costs related to a DOJ investigation.
The company said investors would likely lose part or all of their investment if it could not complete the sale of its opioid-related assets. Insys said it had $87.6 million in cash and cash equivalents at the end of March, which falls short of the $150 million tentative settlement the company made with the Department of Justice to settle claims that the company bribed doctors to unnecessarily prescribe its fentanyl-based drug Subsys, which is meant to treat cancer patients.
Prosecutors said Kapoor and the other executives bribed doctors to prescribe Subsys mostly through "sham" programs that were meant to increase brand awareness for their drug. Instead, prosecutors alleged Insys used the programs as a way to pay practitioners to over-prescribe Subsys.
They should be asking god for strength for what the Survivors are about to put them through... its time to reign down
I hear there's something you can take for the pain.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Law Law Latest News, Law Law Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Insys says it may be forced to file for bankruptcy due to litigation cash crunchInsys Therapeutics Inc said on Friday that a cash crunch resulting from legal co... Should have thought of that before they bribed my doctor to,prescribe more Subsys. Yes, Gordon Freedman was my doctor. Now he's out of practice and his patients are up shit's creek. Why no jail time? Insys is a Pharmaceutical company involved with the opioidcrisis in the USA, & faces litigation from the Justice Dept because of it.
Source: Reuters - 🏆 2. / 97 Read more »
Insys says it may be forced to file for bankruptcy due to litigation cash crunchInsys Therapeutics Inc said on Friday that a cash crunch resulting from legal co... Is that Bizarro Bernie Sanders? Oh gosh, an opioid company has to file bankruptcy after the top executives were convicted of federal crimes.
Source: Reuters - 🏆 2. / 97 Read more »
Insys says it may be forced to file for bankruptcy due to litigation cash crunchInsys Therapeutics Inc said on Friday that a cash crunch resulting from legal co... Should have thought of that before they bribed my doctor to,prescribe more Subsys. Yes, Gordon Freedman was my doctor. Now he's out of practice and his patients are up shit's creek. Why no jail time? Insys is a Pharmaceutical company involved with the opioidcrisis in the USA, & faces litigation from the Justice Dept because of it.
Source: Reuters - 🏆 2. / 97 Read more »
Insys says it may be forced to file for bankruptcy due to litigation cash crunchInsys Therapeutics Inc said on Friday that a cash crunch resulting from legal co... Is that Bizarro Bernie Sanders? Oh gosh, an opioid company has to file bankruptcy after the top executives were convicted of federal crimes.
Source: Reuters - 🏆 2. / 97 Read more »