Insys Therapeutics
Founded in 1990, Insys Therapeutics was an American specialty pharmaceutical company based in Chandler, Arizona. Its main product was Subsys, a sublingual liquid form of the drug fentanyl. Fentanyl is an extremely fast-acting and powerful opioid used to relieve peaks of pain in cancer patients.
| Company type | Public |
|---|---|
| Nasdaq: INSY | |
| Industry | Pharmaceutical |
| Founded | 1990 |
| Founder | John Kapoor |
| Fate | Bankrupt (2019) |
| Headquarters | Chandler, Arizona, U.S. |
Key people | Michael Babich (CEO) |
| Products | Subsys (fentanyl) Syndros (Tetrahydrocannabinol) |
Number of employees | 343 (2019) |
In its final phase the company and its executives faced legal issues related to the opioid crisis and marketing activities by the company, including accusations of bribes and misleading advertising. Several company executives were convicted of racketeering in a jury trial in May 2019.
Insys filed for bankruptcy in 2019. The filing came just 10 days after the company agreed to pay $225 million to settle separate criminal and civil cases brought by the U.S. Justice Department.
The 2023 movie Pain Hustlers is based on the story of Insys.