After more than three weeks of deliberation, a federal jury has found Insys Therapeutics founder John Kapoor as well as three former Insys managers guilty of racketeering conspiracy.
:"My involvement is I am an investor." He said,"As an investor I'm on a board. As a board member and an investor you are involved, but you are not involved in day-to-day operations, and that's where the problems come in."
The next year in October 2017 he was indicted by the Department of Justice on racketeering and other charges related to conspiracy to bribe doctors—the same day that President Trump declared the opioid crisis a public health emergency. KapoorSix others from the company had been indicted on charges in December 2016, and two, former CEO Michael Babich and former vice president of sales Alec Burlakoff, pleaded guilty before this year's trial began.
Last December Kapoor's net worth, based mostly on his stakes in Insys Therapeutics and generic drug firm Akorn, hadAt market close Thursday Insys stock was trading down about 1.5% to $4.15 per share. While Kapooras CEO and chairman in January 2017, Insys reported in its annual report in March that as part of the company's indemnity agreement with Kapoor that it had noted $25.7 million in legal expenses last year to pay for his criminal and civil defense and had so far paid $5.
Separately, in August Insys agreed to pay $150 million over five years to settle the Department of Justice's criminal and civil investigation into how the company sold its fentanyl spray, Subsys. At its peak in 2015, annual sales of Subsys reached $329 million. Sales of the drug were $58.6 million in 2018.
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