|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's Range||0.0403 - 0.0500|
|52 Week Range||0.0200 - 6.7100|
|Beta (5Y Monthly)||2.16|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar 04, 2020 - Mar 08, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||9.00|
John Kapoor, founder of Insys Therapeutics, was sentenced to 5.5 years in prison and ordered to pay $250,000 for his role in a scheme to coax doctors to prescribe the fentanyl spray SUBSYS.
John Kapoor, the founder of Insys Therapeutics Inc, on Thursday was sentenced to 66 months in prison for his role in a bribery and fraud scheme that contributed to the U.S. opioid crisis. Kapoor, 76, is now the highest-ranking pharmaceutical executive to be sentenced in a case linked to the opioid crisis. Forfeiture and restitution in Kapoor's case still needs to be determined.
A New York doctor was convicted on Thursday of accepting thousands of dollars in bribes and kickbacks from Insys Therapeutics Inc in exchange for prescribing his patients an addictive fentanyl spray the drug manufacturer produced. Gordon Freedman was the fourth medical practitioner to face trial on charges stemming from what prosecutors say was a wide-ranging bribery scheme orchestrated by the now-bankrupt drugmaker that helped fuel the U.S. opioid epidemic. "This is a very sad day for a doctor who spent his entire career caring for people suffering with terrible and debilitating pain," said Samuel Braverman, a lawyer for Freedman.
A federal judge on Tuesday partially overturned the convictions of Insys Therapeutics Inc's founder and three former executives accused of bribing doctors to prescribe an addictive opioid, but declined to disturb the remainder of the jury's verdict. U.S. District Judge Allison Burroughs in Boston ruled the evidence prosecutors presented at trial did not support finding that John Kapoor and the others intended for doctors to prescribe the drug, Subsys, to patients who did not need it. The ruling could impact the eventual sentence received by Kapoor, the highest-ranking pharmaceutical executive to be convicted in a case tied to the deadly U.S. opioid addiction epidemic.
Drugmaker Insys Therapeutics Inc outlined a deal on Thursday to divide its dwindling cash among governments, insurers, hospitals and individuals who accused the company of fueling the U.S. opioid crisis. The company was largely adopting a plan it had filed in September, which now had the support of numerous groups that initially opposed it, said Brenda Funk, who represents the company, at Thursday's hearing before a U.S. bankruptcy judge Kevin Gross in Delaware. The agreement addresses a problem that looms over the thousands of U.S. opioid lawsuits against some of the biggest drug companies - how to carve up the tens of billions of dollars from legal settlements among the plaintiffs.
The decision by U.S. Bankruptcy Judge Kevin Gross in Wilmington, Delaware, marked the first time a bankruptcy court approved the sale of an opioid amid an epidemic that has been blamed for nearly 400,000 overdose deaths between 1999 and 2017. The ruling cleared the way for the drug, Subsys, to be sold to Wyoming-based BTcP Pharma LLC, which belongs to the MMB Healthcare network of pharmaceutical companies. In exchange, Insys will receive royalties it estimated could reach $20 million.