Insys looks to sell opioid-related assets, including fentanyl sublingual spray

Insys Therapeutics said Monday it is considering the sale of its opioid-related assets. Those would include fentanyl sublingual spray (Subsys), formulations of buprenorphine, and the combination of buprenorphine and naloxone. Subsys has been commercially available in the United States for 6 years for the treatment of cancer-related pain.

Insys Therapeutics said Monday it is considering the sale of its opioid-related assets. Those would include fentanyl sublingual spray (Subsys), formulations of buprenorphine, and the combination of buprenorphine and naloxone. Subsys has been commercially available in the United States for 6 years for the treatment of cancer-related pain. While sales of the drug helped Insys become the top-performing initial public offering in 2013, the company's former CEO and cofounder and other executives were arrested and indicted last year as part of a federal investigation into alleged bribes for physicians to prescribe large amounts of Subsys. Earlier this year, Insys agreed to pay $150 million to settle the Justice Department probe into its sales and commercial practices involving Subsys. Insys reported on Monday a third-quarter net loss of $30.6 million, or 41 cents a share, compared with a net loss of $166.3 million, or $2.28 a share in the same quarter of 2017. In addition, revenue fell to $18.3 million from $30.7 million a year ago following a substantial market decline for fentanyl products. Analysts surveyed by FactSet had been expecting a loss of 27 cents a share on $23.6 million in revenue.