New York/Boston — The billionaire founder of Insys Therapeutics, John Kapoor, has resigned from the company’s board of directors, Insys said in a statement on Sunday. Kapoor was arrested on Thursday on US charges he participated in a scheme to bribe doctors to prescribe a fentanyl-based cancer pain drug, marking a step by authorities to fight the opioid epidemic. "I am confident that I have committed no crimes and believe I will be fully vindicated after trial," Kapoor said in a statement on Sunday. Insys, which has previously disclosed that it was working to resolve a US justice department probe, said on Sunday it had recorded $150m as of September 30 as its "best estimate of the minimum liability" to settle the investigation. The department has not accepted the company’s offer, Insys said in a statement. Kapoor, Insys’s majority shareholder who stepped down as CEO in January, was charged with engaging in conspiracies to commit racketeering, mail fraud and wire fraud in an indictme...
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