The CEO of Insys Therapeutics has stepped down from as the embattled drugmaker continues to wind down operations under bankruptcy protection, according to The Phoenix Business Journal.
Andrew Long resigned Oct. 23, six months after taking the helm and receiving a $1.1 million cash retention bonus. He also stepped down from the company's board of directors.
Mr. Long became CEO in April after former Chief Executive Saeed Motahari stepped down. Mr. Long previously served as Insys' CFO.
Insys has been hit hard by lawsuits related to the U.S. opioid crisis. In June, the drugmaker agreed to pay $225 million to settle a probe into alleged improper marketing of its opioid painkiller Subsys.
In addition, Insys' founder John Kapoor and four former executives were convicted in May for their involvement in a racketeering conspiracy to bribe physicians and boost prescriptions of its fentanyl spray.
As a result of the mounting legal fees, Insys filed for bankruptcy June 10.