Cannabis Doesn't Ruin Lives, Big Pharma Does

Although pharmaceutical companies have the most to lose from the legalization of marijuana, no company has taken it as far as Insys Therapeutics (INSY); the company responsible for developing and oversubscribing a fentanyl spray that resulted in hundreds of deaths and overdoses.
In 2016, the disgraced pharmaceutical company donated $500,000 to promote opposition to Arizona’s recreational marijuana ballot initiative.
11 Execs Arrested for Overprescribing and Kickback Schemes
Last year, 11 former executives and managers were arrested and charged with conspiring to defraud health insurers and bribe doctors in exchange for prescribing Subsys. Several physicians who received speaking fees from Insys were also disciplined or arrested for their role in the scheme.
Insys’ ex-CEO Michael Babich was arrested and charged as part of the scandal. As CEO, he sold more than $30 million worth of INSY stock and was paid more than $10 million in accelerated stock options and cash as part of his severance package.
Heather Alfonso was arrested for her part in the scheme. In 2012, she was among the top 10 Schedule II prescribers in the country. In 2013, Alfonso was the top prescriber in Connecticut, writing $2.7 million in prescriptions. Insys also paid her about $1,000 per event to speak at more than 70 dinner programs.
In 2015, Dr. Gavin Awerbuch was also arrested after federal prosecutors said he defrauded Medicare of $7 million and improperly prescribed Subsys to patients. Dr. Jerrold Rosenberg, was also reprimanded for inappropriately prescribing Subsys and other painkillers.
Pill Mills are the Real Problem
Painkillers have become a serious issue in the United States. During the past 15 years, there has been tremendous growth in both the sales of prescription opiates and the number of people who die each year from abusing them.
After Department of Homeland Security Secretary John Kelly addressed the current war on drugs and said that cannabis was “not a factor” in the United States’ current fight against narcotics. Kelly quickly reversed his stance and the next day said that marijuana is a potentially dangerous gateway drug that frequently leads to the use of harder drugs.
420 Intel is Your Source for Marijuana News
420 Intel Canada is your leading news source for the Canadian cannabis industry. Get the latest updates on Canadian cannabis stocks and developments on how Canada continues to be a major player in the worldwide recreational and medical cannabis industry.
420 Intel Canada is the Canadian Industry news outlet that will keep you updated on how these Canadian developments in recreational and medical marijuana will impact the country and the world. Our commitment is to bring you the most important cannabis news stories from across Canada every day of the week.
Marijuana industry news is a constant endeavor with new developments each day. For marijuana news across the True North, 420 Intel Canada promises to bring you quality, Canadian, cannabis industry news.
You can get 420 Intel news delivered directly to your inbox by signing up for our daily marijuana news, ensuring you’re always kept up to date on the ever-changing cannabis industry. To stay even better informed about marijuana legalization news follow us on Twitter, Facebook and LinkedIn.