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News Breaks
May 9, 2014
16:07 EDTINSYTop prescriber of Insys drug probed for fraud, MLive says
Dr. Gavin Awerbuch, a neurologist that was paid $6.9M from 2009, through Feb. 6, 2014, for his prescriptions of Insys Therapeutics' cancer pain drug Subsys, was arraigned in federal court in Detroit on May 6 on charges of health care fraud, reported MLive yesterday. "Awerbuch is responsible for approximately 20.3% of the Subsys prescribed to Medicare beneficiaries nationwide during this time," the affidavit stated, according to the report. Shares of Insys were down more than 16% today. Reference Link
News For INSY From The Last 14 Days
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September 15, 2014
12:58 EDTINSYInsys retreats after receiving second subpoena from U.S.
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08:23 EDTINSYInsys subpoena should not overshadow bigger picture, says Wells Fargo
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07:41 EDTINSYInsys new subpoena an extension of previous probe, says Oppenheimer
After Insys received a subpoena from the Department of Justice after previously receiving a subpoena from an Inspector General's office, the firm thinks the second subpoena is related to the same investigation as the first one. Oppenheimer views the second subpoena as a headline risk but does not expect it to impact the company's business. It keeps a $40 price target and Outperform rating on the shares.
September 12, 2014
18:03 EDTINSYInsys Therapeutics receives subpoena over Subsys sales, marketing practices
On September 8, Insys Therapeutics, Inc. received a subpoena issued pursuant to the Health Insurance Portability and Accountability Act of 1996, as amended, from the U.S. Attorney’s Office for the District of Massachusetts. The subpoena requests documents regarding Subsys, including Insys’ sales and marketing practices related to this product. Insys intends to cooperate with the investigation.
September 10, 2014
10:25 EDTINSYInsys Therapeutics management to meet with JMP Securities
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