Report: Drug maker files for bankruptcy to cover opioid penalties

WAFB - NEW ORLEANS, La. (WVUE) - Drug maker Insys Therapeutics filed Chapter 11 bankruptcy Monday (June 11), just one week after the company was ordered to pay $225 million to resolve a federal investigation, according to the Washington Post.

“The over-production and over prescribing of prescription drugs is what led to the opioid epidemic,” Brad Byerley, DEA Special Agent in Charge, said.

Lee Zurik’s recent Investigate TV series, “Licensed to Pill” looked into the company’s practices of bribing doctors to prescribe Subsys, a dangerous fentanyl spray that’s 100 times more potent than Morphine.

“These guys were the most egregious form of greed, I have ever seen in my career,” Michael Burt, DEA special agent, said.