Sources suggest Insys Therapeutics Inc (INSY) is set to plead guilty to fraud charges as part of an $225 million deal with the U.S. Justice Department resolving claims that the drug dealer bribed doctors to prescribe highly addictive opioid medication to patients.
On June 5, 2019, the Company entered into a settlement with the United States wherein the firm will pay $195 million for certain civil statutory claims made by the United States pursuant to the False Claims Act. The Company also entered into a criminal Deferred Prosecution Agreement with the United States Attorney for the District of Massachusetts concerning five counts of mail fraud. Insys agreed to plead guilty to the fraud and as part of this plea agreement, Insys agreed with the United States to recommend a sentence including $30 million in fines and forfeiture to be paid on a schedule agreed to by the parties.
INSYS THERAPEUTICS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
As of March 31, 2019
Total Asset: $172,600,000