The former chief executive of Insys Therapeutics Inc. has agreed to plead guilty of participating in a scheme to bribe doctors to prescribe a powerful opioid medication sold by the company, U.S. prosecutors said Wednesday.
Michael Babich, who resigned as the Arizona-based drugmaker’s CEO in 2015 and was due to face trial next month, has agreed to plead guilty to conspiracy and mail fraud charges, federal prosecutors in Boston disclosed in a court filing.
Five former Insys executives and managers indicted alongside Babich, including John Kapoor, the company’s onetime billionaire founder and former chairman, remain scheduled to go on trial in late January. They have pleaded not guilty.
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