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INSY

Insys Therapeutics

$9.17

-0.11 (-1.19%)

16:42
08/18/17
08/18
16:42
08/18/17
16:42

Insys agrees to pay $4.45M to settle opioid marketing suit

Illinois Attorney General Lisa Madigan today announced a $4.45M settlement with the pharmaceutical company Insys Therapeutics for deceptively marketing and selling a highly addictive opioid drug for an array of treatments that were not approved by the Food And Drug Administration. The settlement resolves Madigan's 2016 lawsuit against Insys for its sale of Subsys, which is significantly more powerful than morphine and intended exclusively for the treatment of breakthrough cancer pain. Madigan alleged Insys deceptively promoted and sold Subsys to treat a wide variety of pain, such as back and neck pain, even though the drug was not approved for those uses. "Insys pushed a highly addictive opioid in complete disregard for patients' health to increase company profits," Madigan said. "It's unethical, greedy behavior by companies like Insys that is responsible for creating the opioid epidemic and resulting overdose deaths in our state." Madigan will use the $4.45M from the settlement to address the significant increase in opioid abuse in communities throughout Illinois.

INSY Insys Therapeutics
$9.17

-0.11 (-1.19%)

07/21/17
JANY
07/21/17
NO CHANGE
Target $16
JANY
Buy
Subsys ANDA somewhat negative for Insys, but not unexpected, says Janney Capital
Janney Capital analyst Ken Trbovich noted that the FDA's Paragraph IV certifications list earlier this week showed that Insys had received an ANDA filing for Subsys on May 22, which he views as "somewhat negative," but also "not unexpected." While the ANDA raises the possibility of a generic sooner rather than later, Trbovich sees no risk for a generic Subsys until 2020 at the earliest and thinks the company's patents could prevent generic entry until as late as 2030. He keeps a Buy rating and $16 fair value estimate on Insys shares.
05/10/17
PIPR
05/10/17
DOWNGRADE
Target $10
PIPR
Neutral
Insys Therapeutics downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst David Amsellem downgraded Insys Therapeutics to Neutral following the Q1 results and halved his price target for the shares to $10 from $20. Prescription trends for Subsys have been consistently weak and will remain so given the scrutiny of the opioid space and Insys in particular, Amsellem tells investors in a post-earnings research note.
04/06/17
OPCO
04/06/17
NO CHANGE
OPCO
Perform
DoJ settlement not 'end all, be all' for Insys Therapeutics, says Oppenheimer
Oppenheimer analyst Derek Archila thinks Insys Therapeutics' shares are likely to react favorably on an announcement of a DoJ settlement, but he does not view it as the "end all, be all" clearing event for the company as he continues to worry about deteriorating Subsys sales and consensus forecasts for Syndros that look too high. The analyst reiterates a Perform rating on the shares.
03/24/17
JANY
03/24/17
NO CHANGE
Target $19
JANY
Buy
Janney says Insys receipt of DEA decision removes 'stonewalling' fear
Janney Capital analyst Ken Trbovich said Insys Therapeutics' receipt of DEA scheduling of Syndros sets up a launch in the second half of the year, giving its sales reps a second product to promote and the company an opportunity to return to growth. Furthermore, the decision removes uncertainty about whether the company's ongoing DOJ investigation led to "stonewalling" of the company's regulatory efforts, noting that "while slow," both the DEA and FDA eventually took action. He keeps a Buy rating and $19 fair value estimate on Insys shares.

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XBKS

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BMY

Bristol-Myers

$62.93

0.23 (0.37%)

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CBAY

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