Feds Say Insys Needs Consent To Sell Gov't Deals In Ch. 11
Law360 (August 12, 2019, 7:03 PM EDT) -- The federal government filed an objection in Delaware bankruptcy court Friday to disgraced drugmaker Insys Therapeutics' proposed assignment of Medicaid, Medicare and military contracts in its Chapter 11 sale, saying the contracts can't be sold without government consent.
Insys, whose pharmaceutical arm pled guilty to mail fraud in June in connection with a scheme to bribe doctors, has listed 35 federal contracts among its assets for sale, including rebate agreements under which drug manufacturers reimburse states for discounts offered to eligible patients.
"The debtors may not assume and assign the federal contracts without the United States’ explicit consent," the government said...
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