Insys issues statement on its Subsys business

|About: Insys Therapeutics, Inc. (INSY)|By:, SA News Editor

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. Ms. Wilson's title was incorrectly stated as CEO.