Insys Therapeutics
| Public | |
| Industry | Pharmaceutical |
| Founded | 1990 |
| Founder | John Kapoor |
| Headquarters | Chandler, Arizona |
| Products | Subsys (fentanyl) |
| Website | http://www.insysrx.com/ |
Insys Therapeutics is an American specialty pharmaceutical company based in Chandler, Arizona, and listed on the NASDAQ (NASDAQ: INSY).
The company was founded in 1990 by the billionaire John Kapoor, who has been a director since the outset.
Insys' main product is Subsys, a sublingual spray of fentanyl. The drug fentanyl is a very fast acting and powerful opiate used to relieve peaks of pain in cancer patients.[1]
Seven former executives and managers employed by Insys were taken into custody by law enforcement Thursday December 13, 2016 U.S. Attorney for the District of Massachusetts Carmen Ortiz alleges that several former employees of Insys Therapeutics, Inc. - including the once CEO and president of the company - conspired to bribe medical staff in several states to get them to prescribe a specific pain medication.[2] This was the topic of an NBC special feature report on Megyn Kelly's 'Sunday Night' on Sunday, June 4, 2017.[3]
In 2016, Insys donated $500,000 to Arizonans for Responsible Drug Policy, a group opposing a marijuana legalization ballot initiative in the state of Arizona.[4] Investor filings confirm the company was concerned about the impact of legalization on sales for a cannabis-based drug it was developing.[5] The reason publicly given for opposing the measure was to "protect children".[5]
References
- ↑ Worstall, Tim (11 May 2014). "The Short Case For Insys Therapeutics". Forbes. Retrieved May 12, 2015.
- ↑ Williams, Michelle. "Pharmaceutical executives accused of bribing doctors to 'unnecessarily prescribe' fentanyl".
- ↑ Siemaszko, C. (June 4, 2017). "Dangerously Addictive Painkiller Prescribed for Patients Who Shouldn't Have Received It, Says Whistleblower". NBC News. Retrieved July 31, 2017.
- ↑ Nelson, Steven (September 8, 2016). "Fentanyl Maker Donates Big to Campaign Opposing Pot Legalization". U.S. News & World Report. Retrieved June 4, 2017.
- 1 2 Fang, Lee (September 12, 2016). "Pharma Company Funding Anti-pot Fight Worried About Losing Business, Filings Show". The Intercept. Retrieved June 4, 2017.