UPDATE 3-Former Insys executive pleads guilty to opioid bribe scheme [Reuters]
INSYS THERAPEUTICS (INSY)
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Source: Reuters
Former Insys executive pleads guilty to opioid bribe scheme | Reuters 3 Min Read BOSTON (Reuters) - A former executive at Insys Therapeutics Inc pleaded guilty on Wednesday to participating in a scheme to bribe doctors to prescribe the company’s powerful opioid medication and entered into a deal to cooperate with prosecutors. Alec Burlakoff, who was the Arizona-based drugmaker’s vice president of sales, pleaded guilty in federal court in Boston to racketeering conspiracy, becoming the highest level executive to admit wrongdoing in the investigation of Insys. By agreeing to cooperate, Burlakoff could become a key witness at the January trial of six former Insys executives and managers charged with engaging in the scheme, including the company’s billionaire founder, John Kapoor. Burlakoff, 44, faces up to 20 years in prison. But the Florida resident could receive a more lenient sentence by cooperating. Kapoor and his co-defendants have pleaded not guilty. Beth Wilkinson, Kapoor’s lawyer
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