Insys issues statement on its Subsys business


In an apparent response to the bearish blog from Bronte Capital, Insys Therapeutics (INSY -15.5%) President Lisa Wilson issues a statement saying that the company does not sell directly to physicians. It sells to wholesalers (although she did not specify the role her sales organization plays in building demand for the product through wholesalers), She also says that no one doctor has written more than 5% of Subsys prescriptions since January.

She states that the commercialization of Subsys is governed by TIRF-REMS, a robust risk mitigation program that requires physician training and well as the signing of a physician patient agreement form as part of the treatment process. No word on the completeness of the MI doctor's training, however.

This was corrected on 05/12/2014 at 05:30 PM.
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Comments (3)
  • MoneyPro
    , contributor
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    The CEO is Michael Babich.
    12 May 2014, 05:26 PM Reply Like
  • MortyLong
    , contributor
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    I believe the DEA through our government has waged war on pain patients quite possibly without realizing the toll their role has taken and who it is affecting. I personally have called dozens of pharmacies to locate any form of my TIRF (Transmucosal Immediate Release Fentanyl) with no luck. My usual pharmacy, the one that I've relied on for over 40 years was candid enough w/me this past week that they were out of the TIRF and schedule 2 business as "they didn't want another DEA raid and with every TIRF script it was a certainty they could no longer afford". So I sit here today without my cancer breakthrough medication and suffer I do. To the CEOs of all TIRFs fix this if not for your patients, for your bottomline (and while you're at it, geez, lower these prices, fentanyl is not a novel drug and no one can afford it currently at $3000/gm of uncompounded fentanyl, why are you charging $3000 for 30 - 400 mcg tablets, sprays, etc.? That's micrograms, do the math. All TIRF manufacturers, stop pain patients and to the DEA, we aren't Philip Seymour Hoffman, we are just trying to manage debilitating pain with what we can. John at Bronte should know that karma has a way of showing up, this class of medication can quite literally stop pain in it's tracks and that's all I know and care about but the fact that it's unavailable is on you and your mis-characterization which has directly impacted patient access. John Hempe at Bronte hasn't a clue what paralyzingly pain cycles feel like and I believe this CEO's statement, as I am a healthcare consultant as well, along with the government and insurers (which are just a heartbeat from being one in the same) are in control of what relief and care we get. You may think you are wealthy so this won't apply to you but I was paying 100% of the cost and not one pharmacy in my large metropolitan city was willing to carry it for fear of the DEA. They literally shutdown business and I saw it happen right in front of me in the pharmacy on the same floor of the hospital where my oncologist's office is about 2 weeks after the blog came out. Bronte's absurd description of a bald and browless woman, looking much like myself last year, sitting with her young daughter as a "new age hippie" woman, and not the very obvious look of a female cancer sufferer is absurd. He then takes this pharmaceutical advertisement w/the tag line of "time better spent" (which for many of us it is) and finds a way of turning it into a soapbox that a free 1 month trial and co-pay assistance is designed to create addicts and turn all Americans into a zombie nation ($500 co-pay assistance is sadly not a drop in the bucket), is particularly offensive to me but should be insulting to anyone of even below average intelligence as we all have a connection to a person having gone or going through chemotherapy.
    12 May 2014, 05:39 PM Reply Like
  • Bionic
    , contributor
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    The number of scripts from Dr. Awerbuch, or any single doctor, is not the big question. Insys received a subpoena from the Office of Inspector General of the Department of Health and Human Services ("HHS") in connection with an investigation of potential violations involving HHS programs in December 2013. The subpoena requests documents regarding Subsys®, including Insys' sales and marketing practices relating to this product. The FBI/DEA court documents indicate Dr. Awerbuch was prescribing the drug to non-cancer patients. If Dr. Awerbuch testifies that Insys marketed Subsys for off-label use, it's game over for INSY.
    13 May 2014, 09:31 AM Reply Like
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