Billionaire pharma founder busted in opioid scheme

NEW YORK POST/REUTERS:

The billionaire founder of Insys Therapeutics was arrested on Thursday on US charges that he participated in a scheme with other executives to bribe doctors to prescribe a fentanyl-based cancer pain drug and to defraud insurers.

John Kapoor, 74, who stepped down as chief executive of Insys in January, was charged with having engaged in conspiracies to commit racketeering, mail fraud and wire fraud in an indictment filed in federal court in Boston.

He was arrested in Arizona, where Insys is based, and added as a defendant in a previously filed case against six former Insys executives and managers, including former Chief Executive Michael Babich, prosecutors said.

Read more at the NY Post

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