Insys gets bankruptcy court approval for Subsys sale
Bankrupt US drugmaker Insys Therapeutics (Nasdaq: INSY) received court permission to sell its flagship product Subsys (fentanyl sublingual spray) on Thursday.
The addictive opioid can be sold to BTcP Pharma LLC, which belongs to the MMB Healthcare network of pharmaceutical companies, in a deal that could earn Insys royalties of $20 million to help satisfy its creditors.
Insys filed for bankruptcy in June, having agreed to pay a $225 million settlement with the US Justice Department following allegations of marketing malpractices.
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