New Jersey is suing Insys over its opioid sales practices
New Jersey filed a lawsuit against drugmaker Insys Therapeutics Inc. (INSY) on Thursday alleging that the company engaged in illegal sales practices for the powerful opioid-fentanyl drug Subsys. Insys' actions allegedly "led to the death of at least one New Jersey resident," the lawsuit said (http://nj.gov/oag/newsreleases17/pr20171005a.html), referring to a 32-year-old New Jersey woman who was prescribed Subsys for fibromyalgia. Subsys was approved in 2012 to manage "breakthrough pain in adult cancer patients who are already receiving and who are tolerant to around-the-clock opioid therapy," according to the Food and Drug Administration. Despite this, Insys allegedly pushed "off-label" use of the drug to doctors, according to the complaint. "Knowing full well it was putting lives in peril by pushing for broad based consumption of a highly-specialized and incredibly powerful prescription drug... Insys allegedly forged ahead and did it anyway," said New Jersey Attorney General Christopher Porrino, calling the alleged actions "nothing short of evil." The lawsuit also claims that Insys employees used or developed false records, "including false diagnoses of cancer, breakthrough cancer pain and other afflictions" to ensure the drug would be covered. Insys shares were up 0.3% in midday trade. Shares have plummeted 29% over the last three months, compared with a nearly 5% rise in the S&P 500 .
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