Opioid Manufacturer Insys Former Exec Agrees To $10 Million Settlement
Arizona Attorney General Mark Brnovich has settled a nearly $10 million lawsuit with a former executive for opioid manufacturer Insys.
Accusing Insys' former Vice President of Sales Alec Burlakoff of a "profits over patients" attitude, Brnovich went after the Chandler-based pharmaceutical company's executive in 2017 with a consumer fraud complaint.
On Tuesday, Burlakoff settled, agreeing to surrender $5.2 million he made in Insys stock and $4.3 million in civil penalties.
Burlakoff also admitted he illegally compensated doctors to prescribe the company's fentanyl brand Subsys and paid doctors to endorse the highly addictive drug at speaking engagements.
The Insys executive also agreed to testify truthfully in on-going lawsuits against the company.
EDITOR'S NOTE: This story has been updated to correct who was involved in the settlement.