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Drug executives are criminally charged in major opioid case [Los Angeles Times (CA)]

INSYS THERAPEUTICS (INSY) 
Last insys therapeutics earnings: 11/5 04:16 pm Check Earnings Report
US:NASDAQ Investor Relations: investors.insysrx.com
Drug executives are criminally charged in major opioid case Federal prosecutors Tuesday unveiled the first criminal charges against pharmaceutical executives that accuse them of illegally diverting opioids. The former chief executive and the head of compliance at a major U.S. drug distributor are accused of a narcotics conspiracy. Laurence F. Doud III, who spent 25 years as CEO of Rochester Drug Cooperative, and William Pietruszewski orchestrated a scheme to distribute high volumes of Oxycodone, fentanyl and other highly addictive opioids to pharmacies knowing the drugs would be sold to people who had no medical need for them, prosecutors said. Doud, 75, and other executives pressed ahead with the sales to increase revenue and boost their salaries, the prosecutors said. “Why did they do it? The answer is greed,” U.S. Atty. Geoffrey Berman said at a press conference in New York. Pietruszewski pleaded guilty Friday and agreed to cooperate with prosecutors, according to court records. Th Show less Read more
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