Insys Therapeutics Inc said on Friday that a cash crunch resulting from legal co...
- Insys Therapeutics Inc said on Friday that a cash crunch resulting from legal costs related to a U.S. Justice Department probe into sales practices for the company’s powerful opioid medication and other litigation may lead the company to file for bankruptcy and prevent it from completing its settlement deal with the Justice Department.
Last August, Insys reached a tentative deal to pay at least $150 million to resolve a Department of Justice investigation into claims that the drugmaker paid doctors kickbacks to prescribe Subsys, an under-the-tongue spray that contains fentanyl, an opioid 100 times stronger than morphine. “It may be necessary for the company to file a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in order to implement a restructuring. Therefore, trading in our securities is highly speculative,” the company said in a statement.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Former Billionaire John Kapoor Convicted In Opioid Bribery TrialAfter 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.
Read more »
Sudan faces fuel crisis and worsening cash crunchSudan is facing a pre-Ramadan fuel crisis and a worsening cash crunch less than ...
Read more »
Hariri says Lebanon far from bankruptcy, cites risks of no reformPrime Minister Saad al-Hariri said on Monday Lebanon was far from bankruptcy but...
Read more »
Trump says China tariffs 'may or may not be removed' while trade talks continueThe statement came as high stakes U.S. trade talks with China ended early Friday afternoon with positive signs but still far from a deal.
Read more »
Occidental says its only option was to boost cash piece of Anadarko bidOccidental Petroleum Corp said on Monday its latest bid to take over Anadarko Pe...
Read more »
No settlement expected in $27 million SEC 'market manipulation' case, court filing saysFlorida businessman Barry Honig appears to no longer want to settle with the SEC in a case it called 'classic pump-and-dump schemes,' according to a Tuesday filing.
Read more »
San Francisco poised to make stores accept cash, saying cashless businesses hurt the poorSan Francisco is about to require brick-and-mortar retailers to take cash as payment, joining Philadelphia & New Jersey in banning a growing paperless practice that critics say discriminates against low-income people who may not have access to credit cards
Read more »
Nigeria says ex-president and his oil minister took bribes: court filingThe Nigerian government has accused former President Goodluck Jonathan and his t...
Read more »
Mexico’s president just says no to U.S. cash to fight drug crimeAMLO has sought cordial relations, but he wants to dramatically change the Mérida Initiative.
Read more »
Don’t Forget: GE Cash Is Going Down a Black Hole, JPMorgan SaysJP Morgan analyst Stephen Tusa wrote in a report on Friday that bullish investors shouldn’t forget about GE Capital when valuing General Electric stock. He believes the company’s lending unit will remain a cash drain in the future.
Read more »
Britain's Hunt says: I am not a believer in a post-Brexit customs unionBritish Foreign Secretary Jeremy Hunt said on Tuesday he was not a believer in a...
Read more »