Michael Babich, former CEO of Insys Therapeutics, pleaded guilty Jan. 9 to participating in a scheme to bribe physicians to prescribe an addictive opioid medication, according to Reuters.
Prosecutors alleged that from 2012 to 2015 Mr. Babich conspired with others at Insys to pay physicians bribes in exchange for prescribing Subsys, an under-the-tongue fentanyl spray for managing severe pain in cancer patients.
Mr. Babich, who resigned as CEO in 2015, pleaded guilty in a Boston federal court to conspiracy and mail fraud charges. As part of his plea deal with prosecutors, Mr. Babich agreed to testify as a government witness.
While Mr. Babich faces up to 25 years in prison for his role in the bribery scheme, he may receive a more lenient sentence by testifying in the trial against Insys founder and former chairman John Kapoor.
Mr. Kapoor and four other Insys executives face trial later this month for their alleged participation in the scheme.
Read the full report here.