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Opioid manufacturer in kickback scheme files for bankruptcy

In this Jan. 30, 2019, file photo, Insys Therapeutics founder John Kapoor leaves federal court in Boston. The Justice Department says opioid manufacturer Insys Therapeutics has agreed to pay $225 million to settle federal criminal and civil investigations. Photo: AP/ Steven Senne
In this Jan. 30, 2019, file photo, Insys Therapeutics founder John Kapoor leaves federal court in Boston. The Justice Department says opioid manufacturer Insys Therapeutics has agreed to pay $225 million to settle federal criminal and civil investigations.

June 12, 2019 07:07 AM

An opioid manufacturing company whose founder was convicted of racketeering conspiracy for bribing doctors to prescribe its highly addictive fentanyl spray has filed for bankruptcy protection.

Chandler, Arizona-based Insys Therapeutics filed a voluntary bankruptcy petition on Tuesday and said it planned to sell all its assets and address its legal liabilities. They include $225 million the company agreed to pay earlier this month to settle federal criminal and civil charges.

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The Associated Press

(Copyright 2019 by The Associated Press. All Rights Reserved.)

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