Shares of Insys Therapeutics Inc INSY plunged on Monday after the company provided preliminary first-quarter results. In another report, Boyd highlighted how executives at Insys Therapeutics pressure its employees to develop new ways to "mislead insurance companies into granting coverage to patients prescribed its drug Subsys, even as the Food and Drug Administration's Office of Criminal Investigations issues a stream of subpoenas to former employees." Image Credit: Public Domain
Insys Therapeutics, a specialty pharmaceutical company that develops supportive care products, announced that it expects its first-quarter revenue to fall in a range of $61 million to $62 million, noticeably short of the $86 million Wall Street analysts were expecting.
The company attributed its disappointing results on the "heightened publicity surrounding the national opioid epidemic has resulted in a sensitivity by some health-care providers to prescribe opioids."
Whitney Tilson, the founder and managing partner of Kase Capital Management, commented on Insys Therapeutics' decline and offered "kudos" to Roddy Boyd for "nailing" Insys Therapeutics.
Roddy Boyd is the founder of Southern Investigative Reporting Foundation.
Tilson also suggested that Insys Therapeutics is a "truly dreadful company" and highlighted Boyd's investigative work against Insys Therapeutics.
Boyd's investigative work includes a detailed report titled "Murder Incorporated: Insys Therapeutics."
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