Indian American billionaire arrested for illegally marketing opioid

Washington Oct 27 (IANS) 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.

"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.

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

--IANS
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