Insys Therapeutics Inc said it tapped Lazard to advise the drugmaker on its plan...
- Insys Therapeutics Inc said it tapped Lazard to advise the drugmaker on its plans to explore strategic options and is in talks to divest its fentanyl sublingual spray Subsys, sending the company’s shares down 15 percent in after-hours trading.
“We are in active negotiations with multiple parties regarding the potential divestiture of Subsys,” Chief Executive Saeed Motahari said on Thursday, adding the company expects the transaction to require shareholder approval. Prosecutors allege that Insys from 2012 to 2015 paid doctors kickbacks in the form of fees to participate in speaker programs ostensibly meant to educate medical professionals about Subsys that were poorly attended sham events.
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