Friday, 23 August, 2019

Opioid maker Insys' shares fall to penny-stock levels following bankruptcy announcement

TimerCap CEO suggests better compliance packaging policies could help curb the opioid crisis in America Opioid drugmaker Insys Therapeutics files for bankruptcy
Patty Aguilar | 13 June, 2019, 00:48

Insys Therapeutics Inc. told a DE judge Tuesday it is taking responsibility for its part in the nation's opioid crisis as it moves quickly toward a Chapter 11 sale of its assets and a plan to pay legal liabilities, including roughly $200 million to settle government claims.

In documents filed Monday, Insys asked the court to allow it to sell its assets to pay more than $250 million in debts.

INSYS was also charged in federal court in Boston with bribing doctors to encourage prescriptions of its fentanyl spray product.

Insys' founder and four other former executives were also convicted last month of engaging in systematic bribery of doctors to prescribe the powerful opioid Subsys unnecessarily and at higher-than-recommended dosages. Meanwhile, the company used bribes and kickbacks, including paying sham speaker fees, to get doctors to become prolific prescribers of the unsafe drug. For example, since insurers were more likely to authorize payment for Subsys if a patient was being treated for cancer-related pain, IRC employees were instructed to mislead insurers regarding true diagnosis of the patient.

Insys did so by paying medical practitioners to act as speakers at sham events ostensibly meant to educate clinicians about Subsys.

"The integrity of TRICARE, the U.S. Defense Department's health care program for military members and their dependents, is a top priority for the Defense Criminal Investigative Service (DCIS)", stated Special Agent-in-Charge Leigh-Alistair Barzey, DCIS Northeast Field Office in the press release.

Opera Launches 'World's First Gaming Browser', Lets Users Set CPU, RAM Limits
The wait is now over, and an early access version of Opera GX is available to download and try for yourself. There's also a built-in ad blocker and VPN.

Trump Nixes Plans For Mexican Import Tariffs After Reaching Immigration Deal
The video has gone viral online amidst a surge in the number of migrants seeking asylum in the United States. We had nothing, and the reason we had nothing is because Mexico felt they didn't have to give us anything.

Musk sets sights on a record Tesla quarter
Musk said the electric-car maker's ability to expand its product lineup depends on being able to produce a large number of batteries.

Opioids were involved in a record 47,600 overdose deaths in the U.S.in 2017, according to the U.S. Centers for Disease Control and Prevention. Still, no pharmaceutical executive has been convicted on a criminal count. The under-the-tongue spray was approved by the US Food and Drug Administration (FDA) in 2012.

Between 2012 and 2015, Insys allegedly paid doctors to prescribe its potent opioid medication and then lied to insurance companies to ensure that the expensive fentanyl-based painkiller would be covered.

According to a government source, shares from the drugmaker will be removed from the NASDAQ on June 19th.

Insys now markets just one product, according to an August filing with the Securities and Exchange Commission: a sublingual fentanyl spray it calls Subsys.

"The Company does not intend to appeal the determination and, therefore, it is expected that the Company's securities will be delisted", Insys officials wrote.

Recommended

  • Nissan lashes out at Renault for stymying board reforms

    Nissan lashes out at Renault for stymying board reforms

    The rift could put further pressure on Nissan Chief Executive Hiroto Saikawa , who looks increasingly at odds with Renault . Renault is pushing for a full merger between the pair, but there is deep skepticism of the plan at Nissan .
    Someone sent Kevin Durant flowers to apologize for fans cheering his injury

    Someone sent Kevin Durant flowers to apologize for fans cheering his injury

    We play the game, basketball is just a game, but you have more stuff, life is more important than basketball. Whether that is still the Warriors' plan in the wake of Durant's injury in Game 5 remains to be seen.
    Man United make Paul Pogba decision

    Man United make Paul Pogba decision

    And according to The Sun's sources inside Old Trafford, United are "confident" on closing some deals before June's out. I know you shouldn't change like that but it's because of Kun [Aguero].
  • Foxconn can make all iPhones outside of China (if necessary)

    Foxconn can make all iPhones outside of China (if necessary)

    Still, the vulnerability of tech assemblers and chip manufacturers to the trade war has already been established. In his comments to investors, Liu said Apple had not given Hon Hai instructions to move production out of China.
    Very large 'dead zone' forecast for Gulf of Mexico

    Very large 'dead zone' forecast for Gulf of Mexico

    A Louisiana-basically basically based crew has estimated the ineffective zone will be 8,700 sq. miles (22,560 sq. kilometers). Nitrogen and phosphorous enter the river through runoff of fertilizers, soil erosion, animal wastes and sewage.
    Master recordings of legendary artists lost in 2008 fire

    Master recordings of legendary artists lost in 2008 fire

    Though the fire was widely reported at the time , the head of Universal Studios , Ron Meyer, said there had been no major losses. The loss has been described as "a huge musical heritage" in one internal UMG correspondence, and "historic" by Rosen.
  • Kroger to sell CBD products in Kansas, other states

    Kroger to sell CBD products in Kansas, other states

    Not included in Kroger's plans are selling CBD food, drinks, or supplements not yet permitted to be sold by the FDA. The Midwest-based grocery chain says they are adding CBD products to MI stores, joining a growing trend.
    'Gods & Monsters' is the latest from the 'AC: Odyssey' team

    'Gods & Monsters' is the latest from the 'AC: Odyssey' team

    Despite being out in under a year, Ubisoft were surprisingly tight-lipped about what the game actually entails. Gods & Monsters takes place on the Isle of the Blessed, which is far from a sun-baked Greek holiday resort.
    Salesforce buying big data firm Tableau for $15.3-billion

    Salesforce buying big data firm Tableau for $15.3-billion

    FILE PHOTO: The company logo for Salesforce .com is displayed on the Salesforce Tower in New York City, U.S., March 7, 2019. In its last fiscal year ending January 31, Salesforce earned $1.43 per share on $13.28 billion in revenue.
  • Pilot Killed In NYC Crash Was Respected Ex-Fire Chief From Area

    Pilot Killed In NYC Crash Was Respected Ex-Fire Chief From Area

    The New York City Fire Department was responding to a helicopter crash landing at about 2:15 p.m. Monday, atop a 50-story office building on 7th Avenue and 51st Street in Manhattan .
    BBC to scrap free TV licences for people over 75

    BBC to scrap free TV licences for people over 75

    The broadcaster said this afternoon it will now restrict the free licences to pensioners who meet strict criteria. Thousands of pensioner households in South Holland will lose their automatic entitlement to free TV licences.
    Big PlayStation 4 Sale starts today - South African pricing

    Big PlayStation 4 Sale starts today - South African pricing

    Other Days of Play promotions include a Limited Edition Days of Play PlayStation 4 1TB slim console - a steal at just £279.99. That's one year of online play, free monthly games , and discounted purchases for fully one-third off of the usual cost.

Klay Thompson Disrespect Key To NBA Finals, Shaq Says Klay Thompson Disrespect Key To NBA Finals, Shaq Says It is hard to watch the product before and after and say Durant makes this already loaded squad that much better. Anunpby can return from an appendectomy it'd help - and the Warriors will be the fresher team.

Murdered Kim Jong Nam was Central Intelligence Agency informant: WSJ report Murdered Kim Jong Nam was Central Intelligence Agency  informant: WSJ report USA and South Korean officials claim North Korea ordered Kim Jong-nam's execution, a claim the rogue nation has denied. So the freakish life and death of Kim Jong Nam is likely to remain one of the many mysteries surrounding North Korea .

Ex-Canada worldwide gets death threats for US goal celebration criticism Ex-Canada worldwide  gets death threats for US  goal celebration criticism The two teams collide at the Stade de Hainaut in Valenciennes having both won their opening games of the tournament. "I respect Thailand , I spoke to some of them afterwards and they should keep their heads up".

Lukaku admits his Man United future is uncertain Lukaku admits his Man United future is uncertain Manchester United forward Romelu Lukaku has said he expects a hectic summer, amid interest from Inter Milan . Belgium], he did the training session last night, but he woke up and still felt it so no good".

Wendy Williams finally addresses her husband having a love child Wendy Williams finally addresses her husband having a love child Kevin Hunter Jr . was charged with simple assault and was processed and released the same evening and was not taken to jail. While sitting in a vehicle outside of Roscoe's Chicken & Waffles, Williams told TMZ , "Young Kevin and I are fine, ".

Chandrayaan-2 to be launched on July 15, says Isro chief Chandrayaan-2 to be launched on July 15, says Isro chief Once Chandrayaan 2 reaches the moon's orbit, it will revolve around the moon for 27 days to de-orbit the lander on its surface. Once it touches down, the rover will carry out experiments while being controlled remotely by ISRO scientists.

These Deepfakes of Famous People Are Testing Facebook's Policies These Deepfakes of Famous People Are Testing Facebook's Policies Posters and Howe are not trying to trick internet users, as all the videos are labelled with the hashtag #deepfake . The doctored Pelosi video is just one instance in which manipulated videos had been used for malicious purposes.

The next Legend of Zelda is in development The next Legend of Zelda is in development Overall, it was a pretty impressive roster at E3, and we can't wait to get our hands on all of these new games! Breath of the Wild 2 follows the original game that launched with the Switch on March 3, 2017.

Watch Bethesda’s E3 2019 Conference Right Here Watch Bethesda’s E3 2019 Conference Right Here The new content was announced at Bethesda's E3 press conference last night, and is due to have gone live at time of writing. Doom Eternal is going to be more of that, though Bethesda did show off a new multiplayer mode called, well, Battlemode.

Trump ‘A Little Concerned’ About Raytheon Merger Trump ‘A Little Concerned’ About Raytheon Merger The defense contractor Raytheon - now headquartered in Waltham, Massachusetts - was originally founded in Cambridge in 1922. Shares of Raytheon were up 0.9% in late trading while United Technologies was down 2.7%.

United States core inflation cools, bolstering case for Fed rate cut United States  core inflation cools, bolstering case for Fed rate cut The Pound-to-Dollar rate was 0.11% higher at 1.2737 but is down 0.02% for 2019 after having fallen 2% in the last month. The index for used cars and trucks slumped 1.4% in May, the fourth straight decline.

Concern Grows As Another US Tourist Dies In Dominican Republic Concern Grows As Another US Tourist Dies In Dominican Republic It followed a spate of mysterious tourist deaths on the Caribbean island, with Wallace the fourth in the past two months . Following Wallace's death, it was reported that the Federal Bureau of Investigation would now investigate the deaths.

Oblak 'wants' Manchester United move Oblak 'wants' Manchester United move The Slovenian stopper is rated as one of the best in the world following his performances under Diego Simeone in recent years. However, United could still press ahead in their attempt to sign Oblak, with uncertainty remaining over De Gea's future.

Frank Lampard tipped as Chelsea's Pep Guardiola by Rio Ferdinand Frank Lampard tipped as Chelsea's Pep Guardiola by Rio Ferdinand And keep blowing money away with these managers who you have to pay up after two years? They play really good football. Club legend Frank Lampard, Max Allegri and even Jose Mourinho are some possible replacement if Sarri quits.

American Airlines extends ban on Boeing 737 Max flights till September American Airlines extends ban on Boeing 737 Max flights till September In April, American Airlines extended its cancellations through august 19 , which has now been extended to September 3. American Airlines is the first of the major USA airlines to cancel MAX flights all throughout summer 2019.