Insys Therapeutics (INSY) reached an agreement in principle with the Department of Justice to pay $150 million over the next five years to settle civil and criminal investigations into allegedly illegal marketing of its fentanyl opioid by some of its former employees. The company could pay up to another $75 million, depending upon other undisclosed conditions.
The deal comes amid long-running probes by federal and state authorities into the abuse and misuse of opioid painkillers, and the extent to which they are appropriately prescribed. Insys has figured prominently in this drama, as several former executives and employees have been arrested in connection with allegations of bribing doctors to boost sales of Subsys, which contains fentanyl, a highly addictive opioid.
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