Health Care

Billionaire Insys founder charged in U.S. opioid bribe case

Billionaire Insys founder charged in U.S. opioid bribe case”

Kapoor, who founded Insys in 2002 and remains a board member, stepped down in January as the company's chairman and chief executive, a role he took on in November 2015.

Mr Kapoor is due to appear in US District Court in Phoenix.

"In the midst of a nationwide opioid epidemic that has reached crisis proportions, Mr. Kapoor and his company stand accused of bribing doctors to overprescribe a potent opioid and committing fraud on insurance companies exclusively for profit", said Acting U.S. Attorney William D. Weinreb in Boston. Most of the people who received the prescriptions did not have cancer.

The opioid epidemic is killing 175 people a day and costing the US economy billions of dollars annually, according to the government. Kapoor's arrest came hours before the White House's expected announcement that the opioid addiction crisis was being declared a national public health emergency.

Authorities allege Kapoor and several previously indicted codefendants "conspired to bribe practitioners in various states, many of whom operated pain clinics", to prescribe Subsys, a powerful narcotic meant for cancer patients suffering intense pain, the statement said. Kelly's office said he was out of town and not immediately available for comment.

More news: Sonic Forces Switch Demo Has a 1-Minute Time Limit

Insys, which has been in settlement talks with the U.S. Justice Department in connection with the probe, declined to comment.

"In the midst of a nationwide opioid epidemic that has reached crisis proportions, Mr. Kapoor and his company stand accused of bribing doctors to overprescribe a potent opioid and committing fraud on insurance companies exclusively for profit", Weinreb said in a statement.

Some lower-level Insys employees have pleaded guilty and are cooperating with prosecutors.

In Massachusetts, former Insys CEO Michael L. Babich and five other former executives and managers are set to go to trial in October 2018 and have pleaded not guilty.

Kapoor is also the chairman and largest shareholder of Akorn Inc., which has been acquired by German health-care provider Fresenius SE for $4.3 billion in April. Numerous physicians were allegedly paid bribes by the company to push the painkilling drug.



Like this

loading...
loading...

Latest


26 October 2017
Cubs shake up more of the coaching staff for 2018
Butterfield has been the team's third base coach since 2013, and is also known as a key infield instructor. Cubs hired Chili Davis as hitting coach and Brian Butterfield as their new third base coach.

26 October 2017
United States officials say diplomatic efforts with North Korea on brink of collapse
Such an act would mark a concerning deterioration of the already-tense situation on the peninsula. "And we have to solve the North Korea problem".

26 October 2017
Pharmacist in NECC meningitis outbreak case acquitted of murder
He called the verdict a victory, noting that a murder conviction would have exposed Chin to a maximum prison sentence of life. Cadden tearfully apologized to the victims in June before he was sentenced to nine years in prison.

26 October 2017
President Trump: 'Ed Gillespie Will Be a Great Governor of Virginia'
Gillespie's Democratic opponent is Ralph Northam, who Real Clear Politics puts at an average of 3.9 points over Gillespie. I served 8 years in the Army, took care of sick kids, and am running to build a more inclusive Virginia.

26 October 2017
Microsoft is Reportedly Working on a Dual-Screen Pocket Notebook-Like Device
Following the disinterest of consumers, Microsoft and its partners quickly abandoned the OS, which is now no longer supported. Instead, it'll be a mobile device similar to Microsoft Courier , a weird piece of hardware that never made it to consumers.

26 October 2017
Trend Analysis - The Bon-Ton Stores, Inc. (NASDAQ: BONT)
On a similar note, the stock is 65.97% above its 50-day moving average, providing a measure of support for short positions. The ATR may be used by market technicians to enter and exit trades, and it is a useful tool to add to a trading system.

26 October 2017
Amazon introduces subscriptions for Alexa skills, makes them free for Prime members
What's interesting about the Alexa skills subscription model is that it's being used to push consumers to a Prime membership . Looking to fill out Alexa's family friendly skills lineup, Amazon launched a developer challenge on Wednesday.

26 October 2017
Einstein's theory of happy living emerges in Tokyo note
The one who sold the tickets seems to be the courier's nephew while the buyer is from Europe but wanted to remain anonymous. Albert Einstein had written two notes describing his theory for a happy living.

26 October 2017
Nabors Industries Ltd. (NBR) Announces Quarterly Earnings Results
Rbf Capital Llc increased Alibaba Group Hldg Ltd (NYSE:BABA) stake by 45,150 shares to 115,150 valued at $16.23 million in 2017Q2. The Firm is a well-known provider of offshore platform drilling rigs in the United States and multiple global markets.

26 October 2017
"13 screws later": Packers QB Aaron Rodgers talks injury on 'Conan'
Green Bay Packers quarterback Aaron Rodgers may not be fit for football right now, but he's up and playing video games. After that, the Packers close the season at home against the Vikings on December 23 and at Detroit on December 31.