OPIOID MAKER INSYS FILES FOR BANKRUPTCY 11 DAYS AFTER SETTLING OPIOD CASE

Opiod manufacturer Insys has filed for bankruptcy. This filing means that they will only be paying out a portion of its recent $225 million USD settlement with the federal government according to reports by the WSJ.

Why this matters: Insys executives have been found guilty of bribing doctors to prescribe its painkiller, Subsys, and the legal fallout has now forced the company into bankruptcy. By all accounts, this is just the tip of the iceberg: State officials still have their sights set on big drug distributors and other manufacturers — most notably Purdue Pharma.