Insys Seeks Speedy Ch. 11 Sale As Liabilities Mount
Law360, Wilmington (June 11, 2019, 7:48 PM EDT) -- Insys Therapeutics Inc. told a Delaware 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.
At a hearing in Wilmington, U.S. Bankruptcy Judge Kevin Gross approved various “first day” motions so Insys can continue operations as it seeks a buyer for its assets, including its two commercially marketed drugs: the opioid Subsys and Syndros, which treats nausea and appetite loss. Insys said it also has various other drugs in...
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