Insys Therapeutics went bankrupt and was fined $1.56 billion
Custom Synthesis, Insys Therapeutics went bankrupt and was fined $1.56 billion
Insys Therapeutics was sentenced to $225 million ($1.56 billion) on charges of illegally bribing doctors and defrauding state health insurance. Mainly related to the company’s current core product Subsys (Fentanyl Sublingual Spray), which can relieve pain within five minutes.
Insys Therapeutics said it would sell almost all its assets within 90 days (the opportunity for Chinese pharmaceutical companies has come), using existing and operating capital flows to support the overall operation.
It is reported that the US FDA treated severe cancer pain with fentanyl sublingual spray in 2012. In the following years, Insys Therapeutics voluntarily declared more than 900 drug-related deaths to the FDA.
(1) Cannabidiol oral solution (CBD) Oral Solution, the fastest progress, is in phase 3 for infantile spasm indications.
According to clinical data from Clinical Trails, GW Phama, UK, ranked first in 84 clinical trials, Mannheim Central Institute of Mental Health, Germany, submitted 13 registered clinical trials, and Zynerba Pharmaceuticals and Insys Therapeutics Inc, USA, ranked third and fourth in 11 and 10 respectively.
(2) Application for Naloxone * Nasal Spray was submitted in the first quarter of 2019.
(3) Previously, in August 2018, Insys Therapeutics’505b2 modified new drug, Epinephrine* Nasal Spray, was approved by the FDA Fast Track Qualification for the treatment of acute, life-threatening allergic reactions.
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