September 17, 2019 / 10:00 PM / a month ago

Opioid maker Insys says payouts in liquidation to barely dent claims

Bankrupt opioid manufacturer Insys Therapeutics on Tuesday filed a liquidation plan disclosing its assets will be insufficient “by a wide margin” to pay thousands of unsecured claims over its flagship product, Subsys.

Insys in a filing in U.S. Bankruptcy Court in Delaware said it estimates claims - including those of the U.S. government, several states and local and tribal governments, hospitals and individuals - will top $4 billion, a figure “far outstripping the debtors’ assets.”

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