INSYS Therapeutics Addresses Maryland Attorney General’s Motion
PHOENIX, Feb. 09, 2018 (GLOBE NEWSWIRE) -- Insys Therapeutics (NASDAQ:INSY), a leader in the development, manufacture and commercialization of pharmaceutical cannabinoids and spray technology, today released the following statement in response to a motion filed by the Office of the Maryland Attorney General:
Consistent with our management team’s sincere commitment to conduct business according to high ethical standards and the best interests of patients, we strive to comply with all requests and inquiries made by governmental entities and we intend to continue working collaboratively and constructively with all relevant authorities to resolve our outstanding governmental investigations. In this regard, our company has expended significant capital and other resources to comply with such governmental requests, including the Maryland Attorney General Office’s requests.
With respect to the recently filed Maryland Attorney General motion, the following facts bear consideration:
- The Maryland Attorney General’s investigation, related to our sales and marketing activities of SUBSYS®, began in December 2016.
- Since the commencement of this investigation, INSYS has produced more than 3.75 million pages of documents in over 10 productions to the Maryland Attorney General’s Office—consistent with the scope of the company’s activities in the state.
- In 2015, the year of highest utilization for SUBSYS, 101 patients in Maryland were prescribed SUBSYS, representing 0.0016 percent of the estimated 871,000 patients in the state who were prescribed an opioid that year.
Accordingly, we do not believe it is factually accurate to indicate that INSYS is materially contributing to the opioid crisis in the State of Maryland nor is it factually accurate to state that INSYS is not cooperating in good faith with the State of Maryland’s investigation. INSYS reaffirms its desire to address any concerns raised by its activities in the State of Maryland and looks forward to meeting with this office as it deems helpful.
For context, we are providing the following data table regarding the top 25 states in 2015 by total opioid patients and SUBSYS share:
|TOP 25 STATES, ESTIMATED NUMBER OF PATIENTS PRESCRIBED OPIOIDS - 2015|
|2015 (highest number of patients prescribed Subsys)|
|STATE||EST PATIENTS - ALL OPIOIDS *||% PATIENTS SUBSYS **|
|* - Total number of patients receiving opioid prescriptions does not include Tramadol|
|** - 2015 total Subsys patients in top 25 states approximately 8,000|
|- 2015 estimated total number of patients prescribed opioids in top 25 states 42,287,000|
|- 2015 total Subsys patients nationwide approximately 9,200|
|- 2015 estimated total number of patients prescribed opioids approximately 52,000,000|
|Source: Number of 2015 opioid prescriptions from Symphony Health Solutions|
INSYS Therapeutics is a specialty pharmaceutical company that develops and commercializes innovative drugs and novel drug delivery systems of therapeutic molecules that improve patients’ quality of life. Using proprietary spray technology and capabilities to develop pharmaceutical cannabinoids, INSYS is developing a pipeline of products intending to address unmet medical needs and the clinical shortcomings of existing commercial products. INSYS is committed to developing medications for potentially treating addiction to opioids, opioid overdose, epilepsy, and other disease areas with a significant unmet need.