Arizona drug maker working on settlement with government
PHOENIX (AP) — An Arizona drug manufacturer whose billionaire founder faces racketeering charges in an alleged scheme paying doctors kickbacks to prescribe opioids says it is negotiating an agreement with the government.
INSYS Therapeutics said Wednesday that a final settlement is pending.
Massachusetts-based Justice Department spokeswoman Christina DiIorio-Sterling said she could not comment on the statement, but noted INSYS founder John Kapoor has a January trial date in federal court. Kapoor has said he is not guilty.
Kapoor and other INSYS executives are charged with offering kickbacks to issue prescriptions for a fentanyl-based pain medication for cancer patients.
INSYS president and CEO Saeed Motahari said in the statement that the agreement calls for the firm to pay out $150 million over five years, with additional payments of up to $75 million.