I do not understand why this is such massive news. Everyone knows John Kapoor was part of the group with Mike Babich, etc., under the old, corrupt regime. But Kapoor was already removed as CEO in January, and new procedures are already in place to get past this garbage by Saeed. The stock took a massive hit today (ALWAYS getting bashed, though), but it was unfounded. Now, with today's news, Insys is no longer handcuffed to Kapoor. Insys, as a corporation, can point the finger at Kapoor, blame him 100%, and move on from this. This is actually a good thing for the life of the company going forward.
I haven't heard chapter 11, but on the other hand with Subsys pulled from the market (in the works), what really does this company have to sell? Not enough high volume products like good old addictive Subsys. Without that, it's just not a company that can sustain itself. Plus such a bad reputation.
This is one of the more insightful posts I’ve seen on here regarding JK and his involvement with this case. Personally, I find it fitting that Insys will help to take down JK and the 6 execs and move on from this dark time. The company has a good balance sheet, solid manufacturing capabilities, two FDA approved products, and the pipeline is attractive. Although its difficult to see it now - this wil be good news for Insys as a corporation as the poster above me stated.
Everyone's crystal ball seems to be working now. That's special ! Anyone have tonight's lottery numbers ? Didn't think so. What will be, will be.
Word is out as of yesterday!! Big layoff coming Dec 1st! Can't say I'm surprised by this announcement.
