Insys Therapeutics Sinks After Filing for Bankruptcy

Tony Owusu - finance.yahoo.com Posted 5 years ago

was down 72% in premarket trading Monday after the company announced it will be filing for Chapter 11 bankruptcy protection due to the financial burden from litigation tied to its role in the opioid crisis in the United States. It said it would continue to operate its business "in the ordinary course" while it sells off its assets through bankruptcy court. Just last week, Insys agreed to pay $225 million to settle federal charges over its opioid sales.

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