Fentanyl Billionaire No More: John Kapoor's Net Worth Drops Below $1 Billion [Forbes]
INSYS THERAPEUTICS (INSY)
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Source: Forbes
John Kapoor's net worth dropped to $875 million on Friday. Jamel Toppin for Forbes The founder of embattled fentanyl manufacturer Insys Therapeutics is no longer a billionaire. Five years after joining the Forbes Billionaires list, John Kapoor now has a net worth of $875 million. Kapoor's fortune is mostly comprised of his stakes in Insys Therapeutics and generic drug manufacturer Akorn Inc., whose shares fell 24% on Friday after a Delaware judge allowed German drugmaker Fresenius to officially terminate its merger agreement with the Lake Forest, Ill.-based company. Back in 2017, Fresenius had announced plans to acquire Akorn in a deal valued at $4.3 billion plus debt, but backed out earlier this year, citing material breaches of FDA data integrity, according a press release from the company, related to its drug development. (Akorn has denied that those accusations had any merit.) Kapoor became chairman of Akorn in 1990 and came on as CEO of t
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