Insys Therapeutics

Insys Therapeutics
Company typePublic
Nasdaq: INSY
IndustryPharmaceutical
Founded1990; 34 years ago (1990)
FounderJohn Kapoor
FateBankrupt (2019)
Headquarters
Chandler, Arizona,[1] U.S.
Key people
Michael Babich (CEO)
ProductsSubsys (fentanyl)
Syndros (Tetrahydrocannabinol)
Number of employees
343 (2019)

Insys Therapeutics was an American specialty pharmaceutical company based in Chandler, Arizona in 1990.[1] Its main product was Subsys, a sublingual liquid form of the drug fentanyl. Fentanyl is an extremely fast-acting and powerful opioid used to relieve breakthrough pain in cancer patients, and prescription of fentanyl in the US for such pain usually requires documented failure of more conservative therapies.[2][3]

In its final phase the company and its executives faced legal issues related to the opioid crisis and marketing activities by the company, including accusations of bribes and misleading advertising. Several company executives were convicted of racketeering in a jury trial in May 2019.[4]

Insys filed for bankruptcy in 2019. The filing came just 10 days after the company agreed to pay $225 million to settle separate criminal and civil cases brought by the U.S. Justice Department.[citation needed]

The 2023 movie Pain Hustlers is based on the story of Insys.

  1. ^ a b "General Contact - INSYS". Insysrx.com. Archived from the original on December 27, 2018. Retrieved December 27, 2018.
  2. ^ Worstall, Tim (May 11, 2014). "The Short Case For Insys Therapeutics". Forbes. Retrieved May 12, 2015.
  3. ^ "Subsys". Subsys.com.
  4. ^ "Founder and Four Executives of Insys Therapeutics Convicted of Racketeering Conspiracy". justice.gov. May 2, 2019. Retrieved May 14, 2019.