Indian-American billionaire charged for illegally marketing opioid

Indian-American billionaire charged for illegally marketing opioid
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Washington: An Indian American billionaire was arrested and charged for illegally marketing opioid, a media report said. John Kapoor, the 74-year-old entrepreneur was arrested on Thursday and is scheduled to appear in a federal court in Phoenix on Friday, reports The American Bazaar.

“The founder and majority owner of Insys Therapeutics Inc., was arrested today and charged with leading a nationwide conspiracy to profit by using bribes and fraud to cause the illegal distribution of a Fentanyl spray intended for cancer patients experiencing breakthrough pain,” the Department of Justice said in a statement.

The charges also include allegations against other Insys executives and managers who were indicted in December 2016.

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“In the midst of a nationwide opioid epidemic that has reached crisis proportions, Kapoor and his company stand accused of bribing doctors to overprescribe a potent opioid and committing fraud on insurance companies solely for profit,” said Acting United States Attorney William D. Weinreb.

“Today’s arrest and charges reflect our ongoing efforts to attack the opioid crisis from all angles. We must hold the industry and its leadership accountable – just as we would the cartels or a street-level drug dealer.”

The statement said the Federal Bureau of Investigation will thoroughly investigate such business practices that ignore a patient’s safety to drive up profits.

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A graduate from the University of Mumbai, Kapoor received his PhD in Medicinal Chemistry from the State University of New York at Buffalo.

IANS