Insys Files For Chapter 11, Days After Landmark Opioid Settlement Of $225 Million
Opioid Crackdown Could Lead To More Drug Company Bankruptcies
Two years ago, the drug company Insys Therapeutics posted a quarter-billion dollars in annual sales.
But the Arizona-based firm’s fortunes plummeted so far that on Monday its leaders declared bankruptcy.
It was the latest fall-out from the nation’s prescription opioid epidemic, which has killed more than 200,000 Americans and triggered hundreds of lawsuits against Big Pharma.
Insys
marketed an opioid pain medication called Subsys that included fentanyl. It generated tens of millions of dollar in annual sales.
But like other prescription opioids marketed aggressively by the drug industry, it turned out to be highly addictive.
NPR